ABSTRACT
Industrial development in the last quarter of the nineteenth century clearly revealed new forms of organization; for under the stress of competition at home and abroad capitalism necessarily suffered modification. To become really effective a political Labour Party needed the backing of the industrial organizations. The Labour Party, it will be remembered, is a political organization formed by the Socialist societies and certain trade unions. The advocates of control of industry by the producers, however, demand organization and regulation; but they entrust such powers to a functional and not to a territorial representation of the people. The Minority Report regards unemployment as a function of industry which can only be dealt with by organized effort. They claim that it can be prevented by so arranging the work undertaken by public authorities that in times of depression the reserve of labour will be absorbed.
