The Daily Worker Newspaper, August 14, 1926, Page 14

- wr ere WHAT AND HOW TO READ The New Economics. By ARTHUR W. CALHOUN iy you hve follewed up the reading suggested in our previous lessons, you are ready now to go at an actual analysis of economic life with a view to systematizing your knowledge and opinions about how the world makes | its living. Up until a few years ago, there was no book written by a uni- versity economist that one could re- commend to labor people, but Edie’s | “Principles of the New Economics,” | published by Thomas Y. Crowell com- pany, is really worth while. The first part, dealing with Econ- | omic Psychology, is especially note- worthy because it analyzes, classifies, and explains the interests at work in the world of economic affairs, If the worker will read thru this section and try to recall in his own experience instances that illustrate each trait dis- cussed by the author, the exercise will be very valuable. It is worth while, toe, to ask which of the tendencies are an asset to the labor movement and which are a hindrance, There is only one qualification at this point: Edie’s psychology is not up te date in every respect. For in- stance he assumes that the traits manifested in human behavior are largely instinctive or based on definite instincts, just as in the case of ani- mals, In reality there is no conclusive evidence that man has any inherited tendencies that should be called in- stincts; so whenever you find the author talking about instincts, replace the word by “interests” or “tenden- cies” and assume that they are quali- ties acquired by experience rather than inherited traits. Ask yourself, , too, how a person acquires the interest tm workmanship, in’ possession of things, in self-assertion, Ask how he acquires submissiveness, the disposi- tion to herd together, the tendency to fear and to fight, and all the other desires that the author discusses. Moreover you may discount what Edie says about the army “nut tests.” The intelligence testers have not really proved their claims of being able to measure the native intelli- gence of individuals, and you may assume for the present that the gen- eral quality of the people is good enough to carry on the job of civiliza- tion. ; When these allowances have been ;made, you may safely stick by Eddie; jon'most other points, If he does not ‘always look at things from a view- point sufficiently revolutionary to suit you, you can correct his bias as you like? but you don’t need to be afraid | of his facts.. You will find, indeed, that ‘his analysis of the economic process gives you just the sort of stuff you need for the underpinning of the labor philosophy, Especially valuable is Edie’s pres- entation in chapter V of the “Mechan- ical and Scientific Basis of Econom- ics.” Why .do the workers need to concern themselves with the technical aspects of industry? Have the techni- cians and the engineers ahything in common with Labor? What prospect do you think there is that some of them may break away from sub- servience to the capitalist? Do the workers need to interest themselves in winning over the engineers? When you come to chapter VI, on Labor's Part in Production, you may feel more at home. Has Edie inter- preted the situation and experience of the workers as well as a university professor could be expected to do? Do you find any points on which you want to quarrel with him? What new material does this chapter provide for propaganda? If you start with these questions and follow them clear through, the chapter will do you good, From the next chapter, on “Capital,” you will want to carry away a lot of figures about wealth and incomé, How Perce Wiehe st Ai uate: Sella atinaaall Paar SN UN Rt EES. 2 ESTEE, NU Siento, SDS Wane Serena much wealth is there in -the United States? What is the total annual in- come of the American people? How much of fhis income must be re-in- vested year by year? What proportion of the income goes to labor? What portion goes to property ownership? How is ownership of wealth divided? How unequal is income? You’ may compare these figures with the ones: you got in “American Economic. Life,” How do you account for conditions? What will you do? This approach will give you an idea of how to go at the chapters on manh- agement, on markets, on money and credit. Better get perfectly clear on just how a corporation operates and ‘how it works into big’ business. Has labor anything to hope for from buy- ing stock in corporations? What power would ownership of stock by a union give? What should labor ‘do about the trust movement? Are mid- dle-man and banker more of parasites than other business men? In a work- ers’ commonwealth, how would the passage of goods to the consumer dif- fer from the arrangement under the present marketing system? Which of the functions now performed by bank- ers would still have to be performed in a workers’ state? Would the social revolution automatically solve the sconomic problem lurking in business and finance, or would it merely make the workers free to tackle the solu- tion? How worth while is it for the worker to know the things treated ih these. chapters? Probably Part III, on “Economic Adaptation,” will not please you very well. You may think there is not much in Edie’s ideas about “the Public” and “Governmental Control”; but is aver- age American opinion as advanced as he is?. What effect would it have on the average American if he digested the chapter on “Public Control’? Can you get anything out of it to use on Henry Dubb when you meet him on Main Street? And then does Edie deal fairly with “Economic Radicalism”? How- nearly correct a view on socialism and Com- munism will college boys get from this chapter? Is his “Economic Dem ocracy” in the last. chapter class cok laboration? — Finally, is Edie’s stuff worthy to be called the “New Economics”?. Would you call it capitalist prop- aganda? If all his idéas were put into effect, how would the économie system differ from what it is now? Suppose now you write up the sub- ject by answering successively these questions: What do the workers want? What’stands in the way? What means are available for satisfying the wants? To what,extent are the means ob- structed by the present .business sys- tem? What forces are at work to make the present system more effi- cient? What forces tend to overthrow it? How can you use the knowledge of economics to strengthen the work- ers’ movement? A WEEK IN CARTOONS _ By M. P. Bales AS A RESULT OF PEACE EFFORTS OF BiG POWERS WE NOW HAVE BEGINNINGS Y OF NEW WAR IN “BALKANS: AI yA C= z= CAPITALISTS TRY 10 GET “KICK? OF “RUMORS OF IN “RUSSIA sige CAPITALISTS OF MIDOLE WEST FOOMING LOWUEN FOR PRESIDENT OF THE U.S. WHERE TO You STAND, MR GREEN, WITH THE WORKERS AND FERIA! “SSM WHEREAS, ss ee): SOMIET RUSSIA Sr Gey |GROWS STRONG~ ER INSPITE OF THEM = STS? WHAT KIND OF as & go) = A “RUSSIAN PLAY, “POTEMKIN: Hat BRITISH GOV'T, PROHIBITED IN ENGLAND ? THIS MAKES R A FINE TONIC \ P g ) ae, ‘e THE