New Liberalism : The Political Economy of J.A. Hobson by Allett, John New<-

New LiberalismThe Political Economy of J.a. Hobson\nAuthor(s): John Allett\nFormat: Paperback\nPublisher: University of Toronto Press, Canada\nImprint: University of Toronto Press\nISBN-13: 9781442651401, 978-1442651401\nSynopsis\nJohn A. Hobson was a prominent member of a small band of British radicals who argued around the turn of the century that the consistent application of liberal ideas required the reorganization of capitalist societies along socialist lines. Allett here suggests that their march toward socialism was marked by a caution not overly to damage the liberal heritage of their forefathers and yet to provide a philosophical foundation for the creation of the welfare state, justified on the basis of right and efficiency.\n\n The author emphasizes Hobsons doctrine of imperialism and the related theory of under-consumption for which he is best known, while arguing that the lesser known of Hobsons doctrineswhich the author describes as the organic theory of surplus valuei.