456 SECTIONAL TRANSACTIONS.— F. 



(extractive, instrumental, other capital goods, consumers' necessaries and 

 services, other consumers' goods). 



So far as data are available, a similar study is made for the years 1906-13 

 covering the depression of 1908-9. 



Prof. Dr. Ernst Grunfeld. — The rSle of Co-operative Societies in the 

 social movement. (Taken as read.) 



By social movement we mean the organised endeavours of the working 

 classes to better their situation under industrial capitalism. It started from 

 actual evils that it was desired to remedy, if necessary, by means of revolu- 

 tion, so that the workmen might possess equal rights with the other classes 

 and have the chance of gaining controlling power. Its causes are every- 

 where the same, its means and ends vary, but include similarities. 



The main impulse of the movement went out from the trade unions. 

 Together with Co-operative, Friendly and similar Societies, they were, and 

 still are, the means to progress through self-help. Besides these, attempts 

 were made to obtain political power and so force the State to carry out the 

 wishes of the working classes. 



What was the role of Co-operative Societies in this movement ? Co-opera- 

 tive production, the ideal of pre-Marxian Socialists, was tried in England 

 by Christian Socialists, in Germany by Lassalle, but acquired importance 

 in France and Italy only. The evolutionary type of Co-operative Societies 

 as founded in Germany by Schulze-Delitzsch consisted principally of 

 Co-operative Societies which were mutual loan societies for the working 

 classes and still more for the lower middle class. The Rochdale consumers' 

 organisation ultimately became the standard and ideal for the whole world, 

 either in its original form or with variations. 



Two points should be stressed : (i) The whole Co-operative Societies' 

 movement was strongly under the influence of intellectuals, who were not 

 of the working class. (2) Co-operative Societies were regarded by the 

 workmen either as of primary importance, as the only means of achieving 

 the aim of the social movement, or as of secondary importance, as one means 

 among several. 



Tuesday, August 23. 



Mr. G. F. Shove. — The interpretation and allocation of cost (lo.o). 



The subject investigated is the influence of cost upon the price of a 

 product which is one of several produced by the same concern. Particular 

 attention is given to the influence of ' overhead ' or ' common ' costs, 

 (i) Various interpretations of ' cost ' are considered and one is selected as 

 being suitable for this inquiry without departing too far from ordinary 

 usage. (2) It is shown that, on this interpretation, conclusions about the 

 relation between cost and price, familiar in connection with artificially 

 simplified cases, can be generalised so as to cover actual conditions en- 

 countered in the conduct of business. (3) It is argued that the influence of 

 ' overhead ' or ' common ' costs on prices depends more on the planning 

 of businesses, their financial policy and mutual competition, than on their 

 practice in the matter of ' costing.' 



Mr. R. L. Hall. — The business view of the relation between price and cost 

 (ii.o). • 



A group of economists in Oxford, who have been making a study of 

 Trade Cycle problems, have asked business men questions about the 



