of mathematics; whereas the differences between them are commonly fundamental. Indeed, it is not unusual to find their theories mutually exclusive.

Dr. Boven gives a new and original analysis of a book entitled "A Treatise on Wealth," thought to be the work of A. N. Isnard. It was published in 1781 at London and Lausanne. The name of Isnard is hardly known, but he has anticipated, without recognition, several modern theories. "Certainly Isnard is a scientific thinker," says Dr. Boven, on page 57. "His method of stating problems shows this clearly. He has a very exact idea of the interconnection of economic facts. He satisfies himself that the question of value is one of quantity, not quality, and then proceeds to apply the algebraic method to the matter in hand."

With

In the work of Walras, Dr. Boven has done well to distinguish where the writer is being scientific and where he allows his personal opinion or his sense of style to run away with him. equal acumen Dr. Boven has pointed out how, in this respect, Walras and Pareto are radically different. In fact, those who wish to have a clear and summary account of the latter's view without entering into too much detail, should consult Dr. Boven's book rather than the original. Other theories of the mathematico-economists are distinguished with similar success, and though many writers still persist in treating them as a homogeneous whole, they stand at last distinct and in their proper classes.

VILFREDO PARETO

Cours d'Economie Politique. By GEORGES BLANCHARD. (Paris: Pedone. Vol. I. Pp. 712. 1909. Vol. II. Pp. 907. 1912.) THESE two bulky tomes contain a course on Economics, intended for law students. The general scheme of the whole deserves all praise; it is logical and comprehensive, just what we should have expected from a French writer. Thus, after dealing with the general doctrines of population, the author goes on to discuss the movement of population (with statistics), immigration and emigration, and naturalisation. But this excellence is inseparable from a radical weakness which, to some extent, lessens the value of the work. The fact is that it treats of too many subjects to allow of adequate consideration of them alleven in sixteen hundred pages. It is more of the nature of a small encyclopædia than of a treatise. From the history of

sumptuary legislation to the theory and practice of colonising, from social hygiene and old-age pensions to poor relief, insurance and paternity laws-one may find some information at least on almost every topic either of primary or secondary interest to the student of economics. We have tested the work from this point of view, and are bound to confess that the completeness of the subjects is almost perfect. An account of Syndicalism might have rounded it off perfectly, though, it must be added, the general strike is not left unmentioned.

From what has been said it will be evident that these two volumes are concerned more with descriptive than with theoretic economics; that though theoretic principles are discussed, more attention is given to the descriptive aspect of the subject. This is no reflexion on the author, whose aim appears to have been to provide a text-book for students of law, in accordance with what the French public authorities prescribe for this class; and on the whole he has accomplished his task with great credit.

One feature of the work that will assist students in their reading is the division and sub-division of categories. An instance or two will suffice by way of illustration. In the Introduction a section is devoted to modern schools of political economy. First we are introduced to the Liberal School, and as sub-divisions of it, to the mathematical and the Austrian schools respectively. Secondly, the Socialist School, with its two branches, Communism and Collectivism, are dealt with; and lastly, the schools which occupy a position between these two-that of social reform, connected with the name of Le Play, and the Catholic School, so closely akin to it (both desiring to restore the influence of religion in the State, of the employer in the workshop, and of the father in the home), the historical school, the school of State Socialism, and the school of social solidarity, with its doctrine of the quasisocial contract, promulgated by M. Léon Bourgeois. Or to take a second example. Colonies are divided into five kinds : (1) purely political (i.e., penal settlements); (2) commercial colonies (HongKong is instanced); (3) plantations and fishing-stations; (4) colonies that serve to drain off the surplus population from the mother country, and (5) those that partake of the nature of all the previous ones.

On the question of Free Trade v. Protection, the author very properly points out that no general answer can be given; each country must decide for itself; and that while one land may flourish under Free Trade, another will find prosperity only under Protection. The treatment of this important topic is in accord

with the author's general method; he has tried to be scientific, and in most cases gives the views on both sides concerning any matter in hand. But he does not stop there; he generally indicates in what direction his own feelings tend. So it is interesting to find that he ranges himself on the side of Free Trade, which he regards as the ultimate goal of civilisation.

As an introduction to the study of economics, the work of M. Blanchard may be recommended for its clear information on so many topics. It is certainly a moot point whether the intensive or the extensive method of study is best for the beginner in economics; whether, that is, he should strive to obtain a more or less thorough mastery of each important division of the subject in turn, or cover the whole of the ground in order to know his bearings. In the second case we can conceive of no better textbook than M. Blanchard's. It lacks only one thing-a bibliography, which is as essential to the student as a sign-post is to the traveller. Moreover, English readers will find it useful for reference on many aspects of French social legislation and social tendencies. On English conditions the author, though brief, is quite sound; but he invariably speaks of shellings.

There is a long appendix wherein many points in the text are illustrated by instances from the economic system of Egypt. M. EPSTEIN

The Principles of Scientific Management.

By FREDERICK

WINSLOW TAYLOR. (New York: Harper. 1911.)

Scientific Management: Tuck School Conference, Dartmouth College. (Hanover, V.H., U.S.A.: Amos Tuck School. 1912. Pp. xi+388. $2.50 net.)

Increasing Human Efficiency in Business. By PROFESSOR WALTER DILL SCOTT. (New York: Macmillan. 1911. Pp. 339. 5s. 6d.)

Fatigue and Efficiency. By JOSEPHINE GOLDMARK. (New York: Charities Publication Committee. 1912. Pp. xvii +302 +591. $3.50.)

THESE four books all deal with what claims to be a new science, and all come from America, where that science was born. It is the science of Efficiency in business, particularly the efficiency of production. Its founder, Mr. Taylor, the writer of the first book, calls it the science of management, and he claims that it is a true science because it rests "upon clearly defined laws, rules,

and principles as a foundation"; and further that "the fundamental principles of scientific management are applicable to all kinds of human activities." The second book is a very interesting report of papers, speeches and discussions on scientific management at a conference held in 1911 at the Amos Tuck School of Administration and Finance. The other two books are concerned with what is really only a branch of this science, namely, the psychology of labour. Professor Scott has made a careful if rather diffuse analysis of the psychological causes of efficiency or inefficiency of workers. Miss Goldmark has made an exhaustive study of the relationship of fatigue and efficiency, especially in women workers.

Mr. Taylor's is a remarkable book. It is written by a man who began life as a common labourer, who worked as patternmaker and machinist, and eventually became chief engineer in a great steel works. It shows a power of imagination, a concentration of thought and language, which not only make it fascinating for anyone to read, but also, in a way, which is rare in this kind, or perhaps any kind of book, leave in the mind of the reader an indelible impression of what the writer thought important in his views. And there can be no doubt in the reader's mind after he has read the book that those views are of the utmost importance to the employer, the manager, the worker, and the

economist.

Mr. Taylor sets out to prove three points: first, that almost every daily act is performed inefficiently by us, and that great loss results from such inefficiency; second, that the remedy for the inefficiency is to be found in systematic management; third, that the best management is a science. Not the least interesting part of his proof consists in the psychology of labour which he presents to us. He shows, first, that the ordinary systems of production and management, and especially piecework, universally result in underworking, or "soldiering," i.e., deliberately working slowly so as to avoid doing a full day's work. This, of course, is deliberate inefficiency. But there is another cause of inefficiency over which the workman has no control. Under the best system of unscientific management the final responsibility for the way in which he is to do his job is left to the workman, and the workman uses rule-of-thumb methods which he has imitated from other workmen. Now, the American business man has discovered a great truth that no man understands his own business. "To the man who says to me, 'I know my own business,' I say in my own mind, God help you!"" were the words of a large manufacturer at the conference at Dartmouth College. Mr. Taylor

applied this truth to the simplest work of the unskilled workman : he found that the most efficient way of doing even the simplest act can only be discovered by scientific study, often of a most elaborate nature: the man who is doing the act almost invariably has neither the time to investigate nor the intelligence to understand it.

The ordinary system of good management Mr. Taylor calls the "incentive and initiative" system. The manager attempts, by giving some special incentive, e.g., pay, hope of promotion, &c., to induce the workman to use his traditional knowledge, skill, goodwill, &c., i.e., his initiative. Scientific management, on the other hand, proceeds on four principles :-First, the development of a science for each element of a man's work; the object of this science is to arrive at standards of productivity of machinery, material, and men. Second, the scientific selection of machinery, material and men, and the training, teaching, and development of the men. Third, co-operation with the men, so that all work is done in accordance with the principles of the science which has been developed. Fourth, redistribution of responsibility between the management and the worker.

The difference between the two methods and the results obtained by the adoption of the scientific principles are well shown in an example given by Mr. Taylor, the handling of pig-iron. The handling of pig-iron is unskilled labour of the most elementary kind. The labourer "stoops down, picks up a pig weighing about 92 pounds, walks for a few feet or yards, and then drops it on to the ground or upon a pile." There were 80,000 tons of pig-iron to be handled in the Bethlehem Steel Company, and a gang was loading on an average about 12 tons per day per man. The first step taken was a study of what Mr. Taylor calls the science of handling pig-iron. One of the most important laws of this science. is the law that "for each given pull or push on the man's arms it is possible for the workman to be under load for only a definite percentage of the day," i.e., where each pig weighs 92 pounds the percentage is 43. Further, if an average workman worked "at an even gait," i.e., working and resting at proper intervals in such a way that he was under load for 43 per cent. of the day, he ought to handle not 12, but 47 to 48 tons per day. The management then carefully selected and trained workmen to work in this way. The results were:

(1) That the pig-iron was handled at the rate of 47 to 48 tons per man per day, an increase in efficiency of between 300 and 400 per cent.

(2) That the workmen earned under the new system $1.85