ABSTRACT
Problems of economic policy, as they actually present themselves in the political arena, are complex and tangled. The principle is accepted generally in all industrialized countries, and it is the basis of the various forms of socioeconomic legislation that have increasingly become a charter of security against the hazards of capitalistic society. The principle covers the physical well-being of the individual, so far as it depends on protection from the hazards of modern social life. Economic means are at once equipment for living and power to command service, which in effect is power over other men. Government is a way of regulating the affairs of a community through the laws and administrative rulings of an authority exclusively invested with final coercive power. One of the major problems of a modern society is the establishment of an effective rapport between the economic aspect of a man’s work and its other aspects.
