ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book seeks to approach the whole subject of economic policy. It deals with Policy and Commerce, which is only part of the larger question of what man wishes the State to be and to attain. The book explores the fact that writers on the subject of policy have not clearly seen and taken steps to guard against a difficulty peculiar to the subject. In 1896 the Birmingham Chamber of Commerce gave a banquet to Mr. Chamberlain, who made a speech in reply to the toast of "Her Majesty's Ministers." As an economic instrument the value of the organized national power could not escape the attention of the industrial age. Policy is thus a means or instrument for certain ends, and its action will depend both upon the ends and upon the means adopted for attaining those ends.
