Sir Josiah Stamp, who is now serving on the Reparations
Committee, is one of the few economists who have the con- fidence of all Governments and all parties. The clear and honest thinking which has gained him this position is exem- plified in his new volume of lectures and papers entitled Some Economic Factors in Modern Life (P. S. King, 10s. 6d.). He puts the case for and against inheritance in one notable chapter and shows how much more information is needed before any definite ruling can be made. On the whole he thinks that inheritance now plays a minor part in causing inequality in the distribution of wealth. He emphasizes
the value of industrial co-operation such as he has encouraged on the London Midland and Scottish Railway. He- analyses the general effects of amalgamations, and warns us that they may not lead to saving: or to greater efficiency. He considers the economic value of amenities and the human side of statistics: Always he is lucid and stimulating and makes the reader feet that economics in the large sense is a fascinating subject.
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