Chapter XVIII: Organization

An insufficient production of ponderable commodities 250 The small stream of ponderable things is made the subject of unnecessary services 251 Present production is wasteful 252 The waste of labour in competition 252 The waste of labour in distribution, etc 253 So called "natural" monopolies 255 Monopoly necessary if labour is to be fully economized 256 Power distribution and public control 256 The problem of monopoly illustrated by the milk trade 259 The milk trade typical of many other services 262 Municipal and joint-stock direction contrasted 263 The management of our railway companies 263 The prevalence of nepotism in private enterprise 264 The Belgian State railways 265 Coal production and distribution 267 The private trust the only alternative to public ownership 269 Public ownership of capital the only remedy for unemployment 270 Those govern who employ 271

CHAPTER XIX THE AGED POOR

Two million persons over 65 years of age and most of them poor 272 Mr Thomas Burt's return of aged paupers 273 Mr Ritchie's return of number of paupers relieved during a year 275 Of the population aged 65 and over, one in three is a pauper 277 Probable number of aged paupers 278 Length of the working life 280 The Charity Organization Society and cost 283 Mr Asquith's Old Age Pension Act 284 First year's working of Old Age Pensions 285 Old Age Pensions at 65 286 Invalidity Insurance 286

CHAPTER XX ADAM SMITH'S FIRST MAXIM OF TAXATION

The famous first maxim self-contradictory 287 Taxation in relation to the Error of Distribution 288 The doctrine of equality of sacrifice 288 An unanswerable case for repeal of all food duties 289 The duties on liquors and tobacco should remain 289