When The Economics of Safeguarding, by Alexander Ramsay (Berm, 8s.
6d.), was written it was probably intended to support the Conservative Party policy on that question. Since then, however, this policy has changed. Mr. Baldwin has removed from his programme the safeguards against abuse of the policy which Mr. Ramsay regards as necessary. His whole chapter on "What is Safeguarding ? " is now com- pletely out of date, and the book, therefore, loses a great deal of any value it might have had. For his arguments in favour of duties Mr. Ramsay relies upon an analysis of isolated cases and individual industries. He makes no attempt to deal with the effect of duties upon the whole industrial complex ; and his examples themselves are not completely analysed. In this controversy, everything depends upon the point to which your analysis is carried. Mr. Ramsay realizes this, and advances reasons why we should at present be content with a "short term view of results. We might be satisfied with these, but in any case we cannot be content with the restricted scope, or breadth, of his analyses. Mr. Ramsay, however, if not a profound reasoner, is a valiant fighter, and puts up a more complete defence of the policy, which has now been abandoned, than most of his comrades in arms.
* * * *