Five highly theoretical lectures in economics propounding a concept of the balanced democratic society, or an economic system balancing government control and individual freedom. He considers what people demand of the economic system, especially the various forms of security, material and immaterial, and the conditions of the good life, the shortcomings and the benefits of both the medieval system and the modern free market. There is an analysis of the disciplines of the free market, competition, and group organization, as man's alternative to serfdom, with particular attention to the Keynesian formula and its inadequate consideration of man's need for security. The ideal as Clark sees it is security through collective bargaining, characterized by responsibility. An economic tract for the theorists. Not a book for the general reader.