ABSTRACT
In the past, economic analysis has reaped rich harvests from English discussions of economic emergencies such as the one about monetary policy during and after the Napoleonic Wars. Hence it is natural to ask what analytic harvest England's postwar problems and the Labour government's efforts to grapple with them have produced. Many of us are in the habit of seeing nothing but tactics in the refusal of official and unofficial, Russian and non-Russian, Communists to recognize anything specifically socialist in the policy or policies adopted by the English Labour party ever since fifty-one Labour members took their seats, in 1906, on House of Commons benches. In Europe, the English labor movement was the first to abandon socialism as a practical goal and to settle down to a consistent policy of improving labor's position within the given framework of capitalist society.
