THE SOCIALISM OF TO-DAY. 
2/8 
read at the meetings are prepared may serve as an example 
for scientific institutions of a similar kind. The questions to be 
treated are selected beforehand, and those who have specially 
studied them are chosen to make reports upon them. Each 
question gives rise to a report and a counter-report, which form 
complete works on the subject The association has, in this 
way, been able to publish twenty-two monographs, which have 
enriched economic literature with studies of a permanent value, 
to say nothing of the oral discussion and polemics to which 
they afterwards gave rise. 
The partisans of the classical doctrines did not treat the 
innovators tenderly. They reproached them with not appre 
ciating the pure truth of the science which they were called to 
profess, and with separating themselves from radical Socialism 
only by reservations which their principles did not justify. 
Political Economy, by deducing its propositions from certain 
axioms, and maintaining that order results spontaneously from 
the free action of natural laws, enabled a very clear and simple 
science to be formed without any great effort, and one which 
solved all difficulties by the uniform receipt of laissez faire. 
The new school, on the other hand, admitting only relative 
solutions, and such as are justified by the study of history and 
statistics, required wide research. It is easy to understand 
that the orthodox, disturbed in the peaceful possession of what 
they had asserted to be absolute truths, would be very much 
irritated with the heretics. The conflict still continues ; but it 
may safely be said that, except in France, the Socialism of the 
Chair is almost everywhere predominant to-day. 
The doctrines of the new school have lately been expounded 
in a masterly work, published under the direction of Herr 
Gustav Schönberg, and entitled Handbuch der politischen 
Œconomie {^^M.a.nvi3i\ of Political Economy”). It is a collective 
work, in which each of the different subjects is treated by some 
Economist of repute who has made it his special study. In 
order to properly understand the ideas of the heretics, it is 
necessary to read also a pamphlet * by Professor Schmoller, 
* Ueber einige Grufidfragen des Rechts und der Volkswirthschaft (“ On 
Certain Fundamental Questions of Law and Political Economy ”).