THE ECONOMIC INTERPRETATION OF HISTORY.
The Economic Interpretation of History. By Edwin R. A. Seligman. (Macmillan and Co. 6s. 6d.)—This little volume of condensed thinking, erudition, and lucid exposition, which has appeared in instalments in the Political Science Quarterly, is worthy of Columbia University and of the author of "Progressive Taxa- teen," and than this there can hardly be higher praise. Mr. Selig- man, who treads dexterously over ground that has already been tramped by Mandan and other heavily controversial feet, has a very definite and important thesis, which can be thus stated. The existence of man depends upon his ability to maintain himself; the economic life is the fundamental condition of all life. Since human life is the life of man in society, individual existence moves within the framework of the social structure and is modi- fied by it. What the conditions of maintenance are to the indi- vidual, the similar relations of production and consumption are to the community. To economic causes, therefore, must be traced in the last instance those transformations in the structure of society which themselves condition the relations of social classes and the various manifestations of social life. This thesis, which has sometimes, but in Mr. Seligman's view erroneously, been termed the "materialistic" interpretation of history, was first formulated in something like a scientific fashion by Marx. That thinker and other economic "evolutionists" have a great deal said about them in this volume, although, as it is perhaps un- necessary to say, Mr. Seligman does not believe in Socialism. His interpretation of the economic life is liberal and comprehen- sive. It is, he contends, ultimately bound up with the whole ethical and social life. "Deeper than is often recognised is the nb.oning of Ruskin's statement, 'There is no wealth but life,' and of his further claim, Nor can any noble thing be wealth. except to a noble person.' The goal of all economic development is to make wealth abundant, and men able to use wealth correctly." Although Mr. Seligman may not seem to "prove anything," his book is most instructive and interesting reading.
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