As regards political economy, I was of course while in college taught the _laissez-faire_ doctrines--one of them being free trade--then accepted as canonical. Most American boys of my age were taught both by their surroundings and by their studies certain principles which were very valuable from the standpoint of National interest, and certain others which were very much the reverse. The political economists were not especially to blame for this; it was the general attitude of the writers who wrote for us of that generation. Take my beloved _Our Young Folks_, the magazine of which I have already spoken, and which taught me much more than any of my text-books. Everything in this magazine instilled the individual virtues, and the necessity of character as the chief factor in any man's success--a teaching in which I now believe as sincerely as ever, for all the laws that the wit of man can devise will never make a man a worthy citizen unless he has within himself the right stuff, unless he has self-reliance, energy, courage, the power of insisting on his own rights and the sympathy that makes him regardful of the rights of others. All this individual morality I was taught by the books I read at home and the books I studied at Harvard. But there was almost no teaching of the need for collective action, and of the fact that in addition to, not as a substitute for, individual responsibility, there is a collective responsibility. Books such as Herbert Croly's "Promise of American Life" and Walter E. Weyl's "New Democracy" would generally at that time have been treated either as unintelligible or else as pure heresy.