This volume was Cole's first major work of political economy in almost a decade and it effectively positioned him as a mainstream Fabian who sought to stabilize capitalism before progressing socialism by essentially statist means. Influenced by J A Hobson and Maynard Keynes the imperative for Cole became the formulation of a strategy which would mitigate the suffering of the masses and lay the basis for socialist advance.

chapter I|21 pages

Politics, Old and New

chapter II|26 pages

British Trade and the Future 1

chapter III|20 pages

The Unemployed 1

chapter IV|20 pages

The Restoration of Industry

chapter V|28 pages

The New Capitalism

chapter VI|14 pages


chapter VII|28 pages


chapter VIII|20 pages

Workers' Control

chapter IX|23 pages

Wages—Family Allowances—Population

chapter X|23 pages

The Supply of Capital 1

chapter XI|23 pages

Banks and Credit

chapter XII|29 pages

Agriculture and the Land

chapter XIII|16 pages

The Control of Trade and Prices

chapter XIV|20 pages

The Empire—Foreign Affairs

chapter XV|29 pages

Local Government

chapter XVI|24 pages


chapter XVII|24 pages

The Labour Budget—Debt and Taxation

chapter XVIII|25 pages

The Labour Budget—Expenditure

chapter XIX|9 pages

The Next Labour Government

chapter XX|14 pages