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This volume was Cole's first major work of political economy in almost a decade and it effectively positioned him as a mainstream Fabian who sought to stabilize capitalism before progressing socialism by essentially statist means. Influenced by J A Hobson and Maynard Keynes the imperative for Cole became the formulation of a strategy which would mitigate the suffering of the masses and lay the basis for socialist advance.

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This volume was Cole's first major work of political economy in almost a decade and it effectively positioned him as a mainstream Fabian who sought to stabilize capitalism before progressing socialism by essentially statist means. Influenced by J A Hobson and Maynard Keynes the imperative for Cole became the formulation of a strategy which would mitigate the suffering of the masses and lay the basis for socialist advance.

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