rosperity: while financiers try
to direct to the best purpose our investments at home and abroad.
Fisher attacks the whole theory of costs at what he believes its root,
suggesting a plan of "stabilizing the dollar itself" by using the
index numbers of standard articles as units of value, and regulating
the weight of gold in the dollar according to the fluctuations of
these. All these plans, hasty and narrowly conceived as many of them
seem to be, are of interest and have value, for they indicate a
serious determination to solve the fundamental problems of the
practical life.

Any educational theory that could hope to deal adequately with the
needs and the impending changes in the industrial situation of to-day
must take into consideration the basic facts both of the individual
and the social life. Teaching of industry and all attempts to teach
vocation must be seen by all now to be but a small part of education
with reference to the industrial life. We must do much more
fundamental things than these. We must plan far ahead and seek to lay
a firm foundation for the idea of cooeperation which appears to be the
leading thought of industrialism to-day. Every individual, we should
say, ought to be educated in the fundamentals of labor, so that he may
understand for himself what labor means. Finally the idea of thrift in
all its implications must be made a part of the educational program.
All this may seem too ideal and impracticable to think of in
connection with industrial education, but if we consider industry and
industrialism as the center of our whole civilization, as it appears
to be now, what less ideal educational foundation will be sufficient
as preparation for and control of the industrial life? No teaching of
trades, we assert, will be enough. We shall need to apply, in
industrial education or in an educational plan that takes industry
into account, all the methods of teaching: those that employ industry
itself, but also art, erudition, and play.

It is first with industrialism as a world condition that education is
concerned. Industrialism has been, as all must recognize, too
individualistic. It has motives and moods and products, and it grows
in social conditions, that are full of danger for society.
Industrialism lacks a soul, as Bergson would say. Yet it is a movement
that sweeps on with almost irresistible force. Its most characteristic
product is not what it turns out in shops, but city life itself. Many