TECHNOCRACY THEORY

Taranaki Daily News, 11 March 1933, Page 6

TECHNOCRACY THEORY

PRODUCTION AND PRICES. PROGRAMME FOR INQUIRY. Recognising at least tacitly the general interest in the technocracy group, which is charting the effects of technological unemployment, and which has brought about its head much criticism against Columbia University, where the group is working, Dr. Nicholas M. Butler, President of Columbia University, has announced the appointment of a commission of economists and publicists to “consider the whole question of the effect of recent technological advance, particularly as manifested in mass production, its effect on economic processes and social welfare.”

The announcement does not mention the technocracy group, and the commission does not include any of its members, but it is regarded in some quarters as designed to answer the criticisms which some theories of the technocrats have brought upon the University. Mr. Butler announces a sixfold programme for the commission’s inquiry, including: — (1) The part which the price system is playing in the direction of production.

(2) An analysis of the relationship between income, investment and production within the present system. (3) Examination of the feasibility of price control to maintain stability both of internal prices and international exchange. (4) Examination of the adequacy of the present monetary systems under modem industrial conditions. (5) Examination of the economic consequences of the improvement of productive technique. (6) Formulation of policies from a survey of the foregoing problems. Mr. Butler says the inquiry will deal particularly with the difficulties arising from the fact that the technique of production and the technique of exchange have evolved semi-independ-ently and are not now functioning harmoniously.