188 SECTIONAL ADDRESSES. 



8. If cessation of inheritance could in itself bring about even distribu- 

 tion, what would be the maximum effect on the average worker ? 



Third. Next we have to consider, a priori, whether the even distribu- 

 tion test is the economic summum honum. This involves psychological 

 factors, and whether anything is economically good in itself if thinking 

 does not make it so. 



9. Is absolutely even distribution an economic, as distinct from a 

 social, ideal? i.e. will wealth production be at its maximum in quantity 

 and quality ? 



10. If not, at what point is ' gross ' inequality reached ? By what 

 standards, absolute or comparative, does one conclude that a given range 

 of inequality is ' gross," ' indefensible,' and, above all, economically dis- 

 advantageous ? 



11. Is a ' fair wage ' a relative or an absolute idea? i.e. in view of 

 differences between different epochs and countries, is there any evidence 

 that men's ideas are sufficiently stable for a ' fair wage ' finally to be 

 reached ? How far is it the product of difference of station ? 



Fourth. Then we have to ask, what motives, with any economic effect, 

 are set up in the human mi'id or will, by a system of free bequest ? 



12. Is the right of bequest an overmastering factor in capital accumula- 

 tion ? What proportion of capital accumulation would go on without it ? 



13. Is the sense of social injustice arising from it of economic signifi- 

 cance in aggregate production ? 



Fifth. There may be directional, or partial, as distinct from aggregate, 

 advantages in a system, which are a useful ingredient in social and economic 

 betterment, i.e. variety and stability as against mere quantitative tests. 



14. Does the right of bequest best preserve economic values which 

 are of importance in particular directions, i.e. consolidation of estates, 

 hindrance to natural development, the conservation of amenities as 

 against utilities, continuity of policy, &c. ? 



Si.cth. In the last group we have a series of inquiries which approach 

 the problem from the reverse direction, and also have a highly practical 

 bearing. 



15. What are the economic consequences of discouraging or nullifying 

 bequest and inheritance by heavy taxation ? Is there any evidence to 

 show that its distribution is made more even in this way, ex pod facto, 

 or that aggregate wealth-making is discouraged or wealth-making capacity 

 is reduced ? 



16. As regards the many who benefit, what is the effect upon motives 

 towards production and towards psychological contentment ? 



17. As regards the few who suffer, what is the effect upon motive to 

 work and to save ? Must a given amount of taxation laid upon a given 

 amount of capital wealth left at death have the same total effect, however 

 it is imposed ? Is it possible to arrange the imposition on any principle 

 which will depress wealth-making motives to a minimum degree and fall 

 more heavily at points where the harmful economic reactions are least ? 



There is a seventh group of questions which deal with the broader 

 aspects of inheritance. 



18. As other things besides objective wealth are inherited, can wealth 

 be really or effectively dissociated from them ? 



