<P>First published in 1909 and reissued in 1910, J. A. Hobson's <I>The Industrial System</I> provides a complex analysis of distribution and consumption. Offering a critique of contemporary capitalism whilst accepting the superiority of the free market, the book includes an exploration of areas such as cost and surplus, supply and demand and the labour movement. This is an important work by one of the most important economic thinkers of the twentieth century, which will be of particular interest to modern economic historians.</P>