Economic Problems of Peace After War; the W. Stanley Jevons Lectures At University College, London, in 1917

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It is perhaps easier to deal with the mental attitude involved, negatively rather than positively in the first instance. The natural disposition is to begin by framing schemes which are designed to remedy some pressing incon- venience which has impressed the popular imagination. This has always been a common aftermath of war, and it is a necessary element in reconstruction. Closely connected with it is the effort to restore former conditions which had been replaced by "JO The Surprises of Peace... less desirable ones during the period of hostilities. Here much will depend upon the method employed. Piecemeal views are strongly to be deprecated. Action in the first case may be unnecessary and even prejudicial, for the phenomena it is designed to remedy may be such as would not in any case survive the end of the period of transition from war to peace.
Hence the efforts to remove them are not only largely wasted but they set up new conditions which in their turn lead to further effects. Or, in the second case, it is desirable to ascertain, in the first instance, whether those conditions it is proposed to put in the place of others are the best in the new circumstances.


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