PRODUCTION: A STUDY IN ECONOMICS.
Production: a Study in Economics. By P. H. Caatberg, of Christiania. (Swan Sonnenschein and Co. 10s. Cid.)—" The root idea of this study in economics may be looked for in" the two sections devoted by the author to "The Distribution of Produc- tion" and "The Use of Savings." Such is the author's own estimate of his work, and the paragraphs in question contain a plain statement in untechnical language of the share contributed by "producers and their assistants" and by the " traders" to the industry of the world. The account given, though novel in form, contains nothing that is new, and the interest of the volume consists in the fact that it gives us information about Scandinavia. We might instance particularly the chapter on the protection of home industries, which "Is to be regarded as an attempt to set forth briefly the arguments for and against Protection in Norway." The later chapters contain the author's views on loans, gold, bank-notes, cheques, and the instru- ments of credit generally, and a practical turn is given to the argument by chapters on "The Hindrances to Production" and "The Destruction of Savings." The whole volume gives the impression that the author's point of view is that of the practical man of business rather than that of the academic economist. The illustrations are for the most part drawn from Norwegian experi- ence, a field of observation which lies somewhat outside the range of the ordinary economic student.
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