chapter  I
WHAT ARE SOCIALIST ECONOMICS?
Pages 30

SociALISTEconomicsarenotapeculiarkindofEconomics devisedtobolsterupthesocialistcase:theyaresimply acommonsensere-statementofeconomiclawsand principlesintermsappropriatetotheworldofto-day andto-morrow.Onagreatmanymattersoffundamental economicdoctrinethereisnodifferencebetweenSocialists andotherpeople;forwheremenofdifferentopinions arestudyingthesamefactsinaspiritofhonestenquiry thereisplentyofroomforagreementaboutthem,howeverwidethedifferencesaboutthepoliciesthatshouldbe adoptedindealingwiththemmaybe.Thus,noone inhissensesdoubtsthatifthepriceofanarticleisincreasedwithoutanequalriseinthepricesofotherarticles, inmostcasesthedemandforitwilltendtofalloffespeciallyifotherthingscanbesubstitutedforit. Again,nooneinhissensesdeniesthatallproduction involvessomeusingupofscarceresources,sothatwhat isusedinmakingonethingisnotavailableformaking others.Thismeansthathumanwantscanbesatisfied onlywithinlimitssetbythesupplyofscarceresources thatcanbeemployedinmeetingthem;thatgetting somethingsaccordinglyinvolvesforgoingothers;and thatthepurposeofgoodeconomicorganisationisto ensurethatthewantswhichdeservetobegivenpreference shallbemetbeforethosewhicharelessdeserving.