It is obvious that peace, civil and international, can be assured only if the world organizes itself into a co-prosperity sphere including the whole globe. Such an organization will indeed work to lower tariff barriers, although holding aloof from doctrinaire free trade principles, in a world of widely varying standards of living. It will not confine its action to promoting trade, but will apply methods of rationing in the raw material field, and will take into account the need of international marketing controls, such as we already have in special cases. But above all the international organization will seek to make credits available wherever necessary to stimulate economic progress.
One of the traits of the United States is her deep respect for the rule of law in general -- a trend of mind that begins with private and constitutional law and extends to the law of nations. In this country the federal government not only wants foreign governments to observe their legal duties toward the United States; it has always, since the Stars and Stripes began to fly, scrupulously observed the obligations of the United States toward other nations. Wars of conquest and invasion are practically unknown in North American history. International law is regarded here as a reality, to which respect is due.
What will the cooperation of free democratic countries look like? Plans vary in projected degrees of autonomy or centralization, ranging from a loose cooperation, which would leave to each country most of its economic sovereignty, to a closely united world state. The main economic task to be solved is the achievement of economic welfare among the various nations, which means the achievement of stable and fairly full employment at high real incomes.
Our security markets still hold an important position in our economic system. The volume of both investment and consumption is influenced by the movement of stock prices, and no analyst of the business cycle can safely overlook their interrelationships with general business conditions. The Dow theory attempts to show that stock prices follow certain patterns, and that from an observation of these patterns definite conclusions can be drawn about future movements of stock prices and even about general business conditions for some time to come. Today, nearly forty years after the theory was first advanced, leading financial papers still interpret stock market action its light. Therefore an attempt to analyze and verify the theory may be well justified.
According to a view which is predominantly held today in England and America, the intellectual origin of National Socialism must be looked for in what are regarded as peculiarities in the history of German philosophical and political thought. By this is meant as those intellectual forces which make German thought radically different from all intellectual traditions of western civilization. As far as National Socialism is concerned, they are stated more specifically as: Lutheran theology, German idealistic philosophy, German romanticism, and the intellectual movement that centers of Nietzsche. These four developments are regarded as containing, actually or potentially, all the main intellectual and moral elements that characterize National Socialism--authoritarianism, totalitarianism and nationalism in the realm of political thought, and irrationalism and nihilism in the field of general philosophic ideas.
That the group mind is a myth most readers of this journal will probably concede. But myths may be separated from the literal truth by widely varying distances. Moreover, it is easier for men of scientific training to reject a partly fanciful doctrine than to see all the elements of truth it may contain. There may be no "group mind"; yet in the concept there may be facts of which those who deny the group mind are less aware than those who assert it. Still more, there may be facts which neither the partisans nor the opponents of the concept are likely to see unless they rise above the level on which the controversy concerning it ordinarily takes place. So the question which this article has to consider is, what elements of truth are contained in, or are, so to say, in the neighborhood of, the idea of the group mind?
Review of book by Ivor W. Jennings. New York: Macmillan. 1940. 548 pp.
Review of book by Guglielmo Ferrero. New York: Putnam. 1941. 351 pp.
Review of book by Bernard Brodie. Princeton: Princeton University Press. 1941. 451 pp. index 12 pp.
Review of book by Ernst Fraenkel. Translated from the German by E. A. Shils, in collaboration with Edith Loewenstein and Klaus Knorr. New York: Oxford University Press. 1941. 248 pp.
Review of book by George Frederick Kneller. New Haven: Yale University Press. 1941. 255 pp. index and bibliography 41 pp.
Review of book by Herbert Marcuse. New York: Oxford University Press. 1941. 431 pp.
Review of book by Marvin Farber. Cambridge: Harvard University Press. 1940. 332 pp.
Review of book by Margaret Jarman Hagood. New York: Reynal and Hitchcock. 1941. 915 pp. index 16 pp.
Review of book by Carl J. Friedrich and Edward S. Mason. Yearbook of the Graduate School of Public Administration, Harvard University. Cambridge: Harvard University Press. 1941. 458 pp.
Review of book by Kurt Goldstein. The William James Lectures delivered at Harvard University. Cambridge: Harvard University Press. 1940. 258 pp.
Review of book by Leo C. Rosten. New York: Harcourt, Brace. 1941. 368 pp. appendices 45 pp., references and index 22 pp.
Review of book by Ta Ch'en. English version ed. By Bruno Lasker. New York: Institute of Pacific Relations. 1940. 287 pp.
Review of book by Sylvester A. Sieber and Franz H. Mueller. St. Louis: B. Herder. 1941. 550 pp.