Recent Literature on. Interest, 1884 - 1899. By E. v. Bohm- Bawerk.
Translated by W. A. Scott, of the University of Wisconsin, and Professor Feilbogeu, of the University of Vienna. (Macmillan and Co. 4s. 6d.)—The Nature and Necessity of Interest. By G. Cassel, Lecturer at the University of Stockholm. (Same publishers. 6s.)—These two works will familiarise the reader with the most recent phases of the discussion of the elusive but fascinating subject of interest. It is a question which, as M. Cassel shows, lies at the root of all consideration of the "social question," and is therefore of a very practical character. According to Professor Bohm-Bawerk, the "exploita- tion" theory upon which the Socialist schools relied has been vanquished owing to the compulsory abandonment of the theory of value upon which it was based. These two books are an excellent example of the vital importance of sound economic theory, and of the progress which is being made towards a scientific solution of a difficult and technical question. Abroad, at all events, political economy has not been "stricken with sterility."
Previous page
