Social Budgeting; [Discussion]

Mr. Williamson presents a completely rational argument for a thorough re-analysis of American ways and means for meeting all of the average man's important risks. We suffer, he believes, from an over-emphasis on the purely private approach, and more particularly from the over-development of life as against other insurance and the related emphasis on the banking as against the insurance method of accumulating funds. As long as these were restricted in their effect to the top drawer of our population, to people generally quite able to care for themselves, there was no objection to them. The difficulties and the dangers--the latter word is mine not Williamson's though he will probably agree-- which arise, are arising, because we assume that principles suitable and inevitable for a few of us will be suitable for all of us.