The Divine Right of Capital

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The Divine Right of Capital

By C. E. Ayres
Houghton, 1946
214 pp. $3.00

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.

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