ADULT EDUCATION.

Waikato Times, Volume 113, Issue 18929, 26 April 1933, Page 4

ADULT EDUCATION.

ECONOMICS CLASS. THE ORISI9 OF CAPITALISM. SOME MODERN PROBLEMS. Renewed Interest In current economic problem's was mahlfest at the opening meeting of the Workers Educational Association, held at Invieta Buildings in Hamilton on Monday evening. This winter's °b u Cf, 6 > which Is to consist of a fortnightly series of lectures on “I he Crisis of Capitalism,’’ promises to be well attended, and is a follow-up to last year’s vigorously discussed series on “Financial Polioy afid the Crisis.' Mr F. A. de la Mare, who presided, opened the proceedings by stating that he had to thank the Douglas Social Credit Movement for their gracious aot in postponing their own regular fortnightly meeting to avoid clashing with this, our first gathering for the year." In Introducing the lecturer for the evening (Mr N. M. Richmond, director of the W.E V \., Auckland), the ohairman mentioned that in these difficult times, when most people were inclined to be critical of our economic system, a dispassionate review of it would be of great value, and he was pleased to anhOUhce Mr Richmond s subjeot as "The Successes and Failures of Capitalism,” Rapid Changes. Mr Richmond, who was received with applause, began by stating that It was difficult pot to be too critical in these trying times, and that things were changing so rapidiy that we must be prepared to change our Ideas along with them if necessary. -Whatever conflicting ideals we aim to realise the remotest and least desirable is the maintenance Of the status quo k-no one cohld describe the present position aii satisfactory,’’ * said the speaket:,, u a.nd' we must seek for some kind of compromise between our Western 'ideals' of - haphazard individualism arid the rigid economio planning of|Russia," < Dealing Wtli the present economic problem, Mr Richmond stated that m his view it Was'a problem of organisation; "to prodtios' what IS required With the least effort and so as to provide a maximum of utilities,” In criticising the Capitalist system it was also Well to remember that modern production required largo amounts of capital Or accumulated wealth, “even In Russia.” The alternative was a handicraft economy With reduced living standards' for all. In the lecturer’s view the present social problem was not so much one of individualism, or private enterprise versus socialism, but rather how muoh of each; for we had definitely admitted socialistic principles by the establishment of OUr various State institutions, our factory legislation, and the ing interference of the State in our Various economio activities, The. line had to be drawn somewhere, and however much the principle of State interference was admitted there should always be freedom .for the' individual to back his opinion against the community by trying out his ida-is "If this freedom had not existed,.' said the lecturer, “we might never have had the steam.'engine or the wireless.” There was this much to be said for; capitalism, that it had ih the. IttUt Century increased real wages and living standards by something like 400 per cent., \

Centralised or Looal Control.

Touching on the Question of centralised as against localised control the speaker reminded his audience that# while the .trend to-day was towards the former the man on the spot \vas often more likely to be right when a decision had to be made, though the power of judgment of the man on the job did not always carry with it the power of expressing that judgment in convincing terms. This would be a weakness in large-scale economic planning, httd was a valid argument for ‘‘the decentralisation of decision. , ” 1 "■ : " ' Dealing with labour-saving machinery the lecturer pointed out that a modern maoiilne does more than any collection of meh .could do either in physical effort or in the sense of precision and accuracy. At the same time it had to be admitted that modern machinery diminished the amount of labour required. , Concerning the failures of -private enterprise, the speaker said it had to be admitted that at present savings for future production were not controlled. Thus if-tyo much were saved waste occurred. Private enterprise, in Its effort to reduce costs, often reduced purchasing power, with undesirable results. The trouble arose as the result of confusion between real costs and financial costs. It was necessary to reduce real costs and not financial costs, which would reduce purchasing power and hamper sales. Then, too, it had to be remembered that iii seeking to make profits an industry frequently succeeded only at the oxpense of some other industry. Questions and discussion kept the meeting going until 10.30 p.m,, when the lecturer was accorded a hearty vote of thanks.