study of the conditions of human welfare as affected by social organisation. The change is a victory for the ideas of Buskin and Morris, though not necessarily for the practical remedies for social maladjustments which they propounded. It brings political economy into close relations with ethics and religion, and should induce economists to consider carefully the contribution which Christianity makes to the solution of the whole problem. For Christianity has its remedy to propose, and it is a solution of the problem of war, not less than of industrial evils. Christianity gives the world a new and characteristic standard of values. It diminishes greatly the values which can accrue from competition, and enhances immeasurably the non-competitive values. 'A man's life consisteth not in the abundance of the things which he possesseth.' 'Is not the life more than meat, and the body than raiment?' 'The Kingdom of God is not meat and drink, but righteousness and peace and joy in the Holy Ghost.' Passages like these are found in every part of the New Testament. This Christian idealism has a direct bearing on the doctrine of 'human costs.' Work is irksome, not only when it is excessive or ill-paid, but when the worker is lazy, selfish, envious or discontented. There is one thing which can make almost any work welcome. If it is done from love or unselfish affection, the human cost is almost _nil_, because it is not counted or consciously felt. This is no exaggeration when it is applied to the devoted labour of the mother and the nurse, or to that of the evangelist conscious of a divine vocation. But in all useful work the keen desire to render social service, or to do God's will, diminishes to an incalculable extent the 'human cost' of labour. This principle introduces a deep cleavage between the Christian remedy and that of political socialism, which fosters discontent and indignation as a lever for social amelioration. Men are made unhappy in order that they may be urged to claim a larger share of the world's wealth. Christianity considers that, measured by human costs, the remedy is worse than the disease. The adoption of a truer standard of value would tear up the lust of accumulation by the roots, and would thus effect a real cure. It would also stop the grudging and deliberately bad work which at present seriously diminishes the national wealth.