W.E.A.

Waikato Times, Volume 100, Issue 16750, 17 March 1926, Page 8

W.E.A.

UNIVERSITY CLASSES. The Hamilton branch of the Workers' Educational Association held its second meeting for 1926, in the Technical School, last evening, the attendance showing a big increase over that of the previous year. The lecturer, Mr T. N. Pemberton, d.ew attention to the very close interrelationship between the production, consumption, distribution and exchange of wealth and discussed the Various factors, land, labour, capital, organisation, which were alt of Ihe greatest importance, in the production of wealth. According lo Keynes:

"Wealth consists of all potentially exchangeable means of supplying human needs" anil in his definition he would include-—(a) material commodities capable of appropriation; (b) rights or opportunities to use or receive or derive benefit from material advantage, such as a mortgage; (c) personal services even though not resulting in any products, e.g., services of lawyers; Id) rights to command or control the services of any given person for any given time. Walker says that "wealth comprises all articles of value and nothing else" and he considers value to be "the power which an article confers upon its possessor, irrespective of legal authority or personal sentiment of commanding in exchange for itself, the labour or the products of labour of oihers." At the end of Hie lecture many pertinent question were answered. The c'.ass will meet again next, Tuesday when the "Production Powers of. a Country" will be discussed.