In This Review

The Divine Right of Capital
The Divine Right of Capital
By C. E. Ayres
Houghton, 1946, 214 pp

According to Ayres, "absolute capitalism," like absolute monarchy, is due to be replaced; "limited capitalism" rather than traditional Socialism is his candidate. Emphasizing real as opposed to money capital, he suggests reforms based on the theory that depressions are principally caused by under-consumption. To a considerable extent this volume is a more popular exposition of "The Theory of Economic Progress," published a few years ago.