'
* ;
C8' 'Cbe Conservative *
The recent book ,
THE POLITICAL by Henry Wood ,
ECONOMY OF entitled "The Poli
HUMANISM. tical Economy of
Humanism , " pub
lished by Lee & Shepard , is a practical
treatise for practical people. It is
unique in its method of the application
of economic principles to the affairs of
commercial life.
Mr. Wood has subdivided his work
into sections , each treating of problems
which are of particular interest to all
employers as well as employees.
Particular stress is laid upon the im
mutability of natural law. In fact ,
every circumstance of commercial life ,
and every industrial problem of present
and future import will , inevitably , come
under the dominion of natural law. By
natural law every condition of labor ,
capital , wage , production , and combina
tion will ultimately reach a perfect
solution , independent of governmental
legislation and all other present means
of attempting to work out the intricate
questions which now appear difficult of
disposition.
In Mr. Wood's iirst subdivision , entitled -
titled "General " it is
Principles , sug
gested that a large
General Principles , portion of the pre
sent conditions , in
the economy of human relations , are
very crude , and will be outgrown , ap
parently , but in reality , superseded by
the higher law of" nature. A legislative
e'uactment can be repealed , but a natural
law remains intact for all time. It is
stated , and very truly , that a higher
law may supersede , or render impotent ,
a lower one. In other words , a crude
condition cannot bo legislated out of
existence , but , by the operation of
natural law , the enactments of legisla
tures will be. rendered inoperative. As
an instance it is cited that "it is im
possible to galvanize unselfishness upon
humanity from the ouside through gov
ernmental legislation. ' ' Such attempts
savor of partisan policies ; they are arti
ficial shells , guaranteed to fit conditions ,
but are ineffective and futile. Uuselfish-
ness is a feature of natural law , and can
become a reality only by the develop
ment of the social condition. The operation -
oration must be from the center , out
ward , and not from without , toward the
center.
In this section the ultimate omnipo
tence of natural law is emphasized , and
it becomes the final solution of all per
plexing intricacies. Natural law is the
substance of the entire work.
Says Mr. Wood : "Supply is positive ;
demand is negative. " Negatives are
constantly search-
Supply and Demand , ing for their cor
responding posi
tives , and positives wait to bestow them
selves. . Supply and demand are not
only incomplete without the other , but
each is evidence of the existence of- the
other. This interesting principle
assumes great importance throughout
the book , and , in a measure , becomes
one of the underlying axioms of natural
law , according to Mr. Wood. The illus
tration of this principle , as given by Mr.
Wood , will inspire severe criticism
among other economists. He states that
the prevalence of a natural desire or
demand for a future reward is , per se ,
evidence of the existence of a future
iife or supply. Upon the stability or
accuracy of tin's so-called axiom , de
pends many of the logical propositions
which are deduced all through the
treatise.
The elasticity and beneficence of the
law of supply and demand is comment
ed upon. It will , independently , adapt
itself to all conditions , irrespective 'of
Legislative interference or other retard
ing forces.
The assumption of the natural priv
ilege to fix rates of interest is denied ,
upon the basis that such usurped author
ity is antagonistic to the ideal operation
of normal conditions , and such obstacles
will eventually be superseded by the
slow , but sure , development and ulti
mate triumph of natural law. "There
fore , " comments the author , "he who
sows seeds of discontent in the minds of
the laboring men , is not their true
friend , " for the reason that , instead of
promoting the betterment of prevalent
conditions , by such sowing , the approach
of natural law is impeded by unnatural
conditions.
Contrary to existing belief , a normal
use of the word "competition"
does not imply
Competition. unfriendliness or
antagoni sin.
Competition and co-operation are
complements. "True , while competi
tion may result in the serious sacri
fice of a very few , it , nevertheless ,
operates simultaneously in the interest
of a great many. Competition is the
force which has ushered into being the
present stage of human development.
There may be a technical unfriendliness
toward previous , crude and unwhole
some or uncomfortable conditions , but
the demands of humanity have made
competition a necessity or supply.
Wherever it has been most keen , thei e
the progress of science , invention , and
civilization has been most rapid. Com
petition is an inspiration ennobled by
the decree of necessity. Ideal compe
tition contemplates a better article at
the same price or as good an article at 'a
lower price. The rendition of an in
ferior service might be more properly
termed in-competitiou. It is competi
tion between the laws of supply and
demand which determines the price of
labor , and labor should come to a knowl
edge of this fact. All the labor organ
izations in the world cannot permanent
ly raise the wage of labor to a point in
excess of its natural value , neither is it
i
possible for the united trusts of the
world to confer permanent , abnormal ,
value upon their manufactured product.
Treating of co-operation , Mr. Wood
suggests that "all possible failure must
find its location in
Co-operation. individual charac-
er , " as a normal
commercial transaction contemplates the
presence of co-operation and competition ,
as a protection to the transactors. As
an element of harmony , co-operation is
as necessary in practical , commercial
life , as a properly-tuned violin is , in an
orchestra. Without competition , stag
nancy is prevalent. The absence of co
operation means the reign of confusion.
The presence of both these necessary
factors , results in harmonious and indus
trious activity.
The section entitled "Labor and Pro
duction" is especially inspiring. It
should be read and
Labor and Production , studied by every
wage worker.
Labor is a normal condition ; idleness ,
abnormal. A compliance with natural
law necessitates work. Labor is a
means ; production an end. Production
constitutes wealth. Labor is fcotfunuscu-
lar and mental. A very terse and friend
ly counsel is embodied in Mr. Wood's
words "The with the
, question wage-
worker should not be , how few hours or
how little exertion can I possibly get
along with , but how much can I accom
plish. "
Society is divided into the dependent
and the independent. Combinations of
labor encourage dependence and dis
courage individual
Combinations , independence. In
dividual and inde
pendent effort is labor's greatest
inspiration , and should be de
veloped to the greatest possible degree.
Such efforts produce wealth , which , ! n
turn , increase the demand for greater
skill , reacting favorably upon labor
itself.
Much interest , undoubtedly , will be
manifested when Mr. Wood's comments
upon" labor coin-
Trade Unions. binations are more
generally difiused.
Ideal combination of labor is commend
able and practical , while the actual is
theoretical and faulty. The fundamen
tal misapplication of the associative
principle is treated in five topics which
are worthy of thought and deep study.
First. A spirit and temper , unfriend
ly to capital , is being developed , whether
consciously or unconsciously.
Second. Such combinations militate
against individual industry and toward
combined dependency.
Third. The freedom of action of the
combining parties , is surrendered to
irresponsible leaders.
Fourth. They are tyrannical toward
unorganized labor.
Fifth. They tend toward coercive
socialism.
All combinations of labor or capital
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