THE ECONOMIC JOURNAL THE JOURNAL OF The Royal Economic Society EDITED BY JOHN MAYNARD KEYNES VOLUME XXVII London MACMILLAN AND CO., LIMITED NEW YORK: THE MACMILLAN COMPANY 1917 THE ROYAL ECONOMIC SOCIETY (incorporated by Royal Charter, 1902) was founded, under the name of the BRITISH ECONOMIC ASSOCIATION, at a meeting held at University College, London, on November 20th, 1890, the Right Hon. G. J. Goschen, M.P. (the late Viscount Goschen), in the Chair. The Society has for its object the general advancement of economic knowledge. The Journal of the Society, published quarterly by Messrs. Macmillan and Co., Ltd., London, and sent post free to Fellows, is intended to represent the various shades of economic opinion, and to be the organ, not of one school of economists, but of all. The Journal numbers among its contributors the leading economists of all countries. Fellows are entitled, in addition to the Journal, to copies of sundry other publications issued by the Society from time to time. Apart from the Annual Meeting, a Congress of the Society has been periodically convened for the discussion of social and economic questions and opportunity has thus been afforded for the reunion of Fellows. By arrangements with the Royal Statistical Society and the London School of Economics, Fellows of the Royal Economic Society may obtain from the Secretary a card entitling them to the use of the valuable libraries of those institutions. Libraries of a public or semi-public character are admitted to subscribing membership on special terms, which can be obtained on application to the Secretary. |