Indian Journal of Economics July 1936

The least that the economic theorist is justified in postulating in regard to the theatre of economic activities is the " freedom of enterprise." Economic freedom is the farthest removed from the realities of economic life especially such as has developed in Europe America and Japan under the conditions of the " second industrial revolution " and " necapitalism." In the first place the " s [...] The " intependence " of the diverse classes the solidarisme of the French sociologists like Durkheim Bougie and Gide the " mutual aid " of Kropotkin the " social harmony " of Hobhouse have been the realities of contemporary societal organization. [...] In recent years the power of the working classes has increased because of the legal recognition of the " freedom of association " as well as the universalization of suffrage. [...] The account that Rammohun Roy gave of the standard of living of the Indian peasants and middle classes in the Statements to the Select Committee of the House of Commons (1831-32) is as dismal as the contemporary reports by Europeans about the conditions in Europe. [...] We encounter in the Official Papers of Marshall the same atmosphere of enthusiasm for the amelioration of the conditions of the paupers and the wage-earners as characterized the Principles of Mill.