ECONOMICS OFFERS WIDE FIELD FOR DISCUSSION

One does not need to be an economic adventist to realize that this is a critical period in the history of the civilized world. Whether we believe that a new Heaven and a new earth are about to be ushered in, or that the old hell and the old world are to remain, we must see that the spirit of revolution is loose. This spirit will either lead us to make some definite steps in progress, or cause us to run down a steep place into the sea. It is not to be assumed that every change is necessarily for the better. Nations have gone wrong almost as frequently as they have gone right in the past, and will probably continue to make mistakes in the future.

It is the purpose of the study of economics in a republic to reduce some-what the likelihood of going wrong in economic affairs, and to increase some-what the likelihood of going right. In an autocracy the people may rely upon their rulers for guidance if they happen to have reliable rulers, but in a republic they have no one to rely upon but them-selves. That furnishes a sufficient reason why the study of economics should interest all serious minded people at all times, and especially in a time like this.

Suffers Decide Question for Russia.

This is one of those times when civilization must justify itself in the face of the great accuser. Today the accusation is made on economic grounds. It is never very difficult for civilization to justify itself in the minds of those who are comfortable under it; it is not so easy to justify it in the minds of those who suffer under it. If those who suffer under it happen to be a majority, as was the case in Russia, they are the ones who will decide whether civilization shall, survive or perish. Therefore they are the ones who must be convinced that it is worth saving. If they are in a minority, as we hope they are in this country, they will not have the deciding voice, and civilization will be tried before a jury not prejudiced against it.

If any case, they who undertake to defend civilization against its enemies must understand the grounds of the accusation. They must also know what civilization has to say for itself on economic grounds. In short, they must understand our industrial system, and know wherein it is strong and wherein it is weak, wherein it may be improved and to what extent it must be reformed. This presents a large field of study for the student of economics.