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J. A. Hobson
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J. A. Hobson : The Science of Wealth
'... [Margaret Cole's] reading at Girton in the early twentieth century influenced her development as a Socialist ... she was shocked by a comment in J. A. Hobson's "The Science of Wealth" to the effect that a certain number of wageless unemployed was a necessary condition of capitalist industry ... "In this mood of altruistic indignation I picked up H. G. Wells's "New Worlds for Old" -- under the misapprehension that it was another scientific romance like "The First Men in the Moon", which had fascinated me years before -- and tumbled straight into Socialism overnight".'
