Originally published in 1938, this symposium, based on the Sir Halley Stewart lectures for 1937, numbers among its contributors some of the world’s most distinguished economists and the subjects of which they treat are of vital interest. Professor Heckscher deals with some recent important tendencies in economic and social life; Professor Ohlin with the future relations of Government and industry – he believes that both state socialism and nineteenth-century liberalism are unsuited for present and future circumstances and that the world will see not a “planned economy” but a “frame economy.” Professor Condliffe’s chapter is concerned with the possible transference from Europe to America of economic power and leadership, and Mr Alex Loveday has chosen as his subject certain problems of economic insecurity. Señor Madariaga’s closing chapter admirably sums up the main purport of the lectures.

This book is a re-issue originally published in 1938. The language used and views portrayed are a reflection of its era and no offence is meant by the Publishers to any reader by this re-publication.

Alexander Loveday (1888–1962) was a British economist who worked for the League of Nations before serving as Warden of Nuffield College, Oxford from 1950 to 1954. At the time of publication, he was Director at the League of Nations, Economics Intelligence Service.

John B. Condliffe (1891–1981) was a New Zealand economist, university professor and economic consultant. Lauded for the decisive role he played in international NGOs in the interwar period, he was one of New Zealand's best-known international economists. At the time of publication, he was Professor of Commerce at London University.

Bertil Ohlin (1899–1979) was a Swedish economist and political leader who is known as the founder of the modern theory of the dynamics of trade. He established a theory of international trade that is now known as the Heckscher-Ohlin theory. In 1977 he shared the Nobel Prize for Economics with James Meade. At the time of publication, he was Professor of Economics at Stockholm University.

Eli F. Heckscher (1879–1952) was a Swedish political economist and economic historian. He is known for the Heckscher-Ohlin theorem, an influential model of international trade that predicts that capital-abundant countries export capital-intensive goods, while labour-abundant countries export the labour-intensive goods. At the time of publication, he was Professor of Economic History at Stockholm University.

Salvador de Madariaga (1886–1978) was a Spanish diplomat, writer, historian and pacifist. He was nominated for the Nobel Prize in Literature and the Nobel Peace Prize and awarded the Charlemagne Prize in 1973. At the time of publication, he was Late Spanish Representative, League of Nations Council.