The Road to Plenty

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Houghton Mifflin, 1928 - 229 pages
 

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Page 138 - It is a machine for doing quickly and commodiously, what would be done, though less quickly and commodiously, without it : and like many other kinds of machinery, it only exerts a distinct and independent influence of its own when it gets out of order.
Page 77 - If we are getting restless under the taxonomy of a monocotyledonous wage doctrine and a cryptogamic theory of interest, with involute, loculicidal, tomentous, and moniliform variants, what is the cytoplasm, centrosome, or karyokinetic process to which we may turn, and in which we may find surcease from the metaphysics of normality and controlling principles?
Page 193 - Progress requires a constant flow of new money to consumers. If, therefore, business indexes show the need of a reinforced consumer demand which cannot be met without additional Government expenditures, the Board should bring about such expenditures...
Page 94 - ... crore of rupees. I am hopeful that generosity in this respect will not be a misplaced virtue, either in the direct returns that it will bring in, or in its general effect upon the- prosperity of the country. For the reasons that I have named, I doubt whether irrigation can continue to do as much in the future as it has done in the past; owing to the gradual exhaustion of the majority of the big schemes. Still even if our sphere of action is less grandiose and¿ spacious than in bygone days, I...
Page 141 - ... involves radically different conceptions of Political Economy, especially in its practical aspect. On the one view, we have only to consider how a sufficient production may be combined with the best possible distribution, but on the other there is a third thing to be considered — how a market can be created for produce, or how production can be limited to the capabilities of the market.
Page 98 - States to consume as much as they produce of consumers' goods, or the full equivalent in the products of other countries." In chapter ix, after giving an exceedingly naive description of supposed control of the price level by the Federal Reserve System, the authors state, however, that the reserve system would not be able to prevent changes in the price level caused by a deficit in consumer income, which is certain to...
Page 59 - ... wasted; even with the resultant sudden dislocation of industry; still, the workers who were left produced so much that they not only furnished the goods that were sunk at sea and otherwise destroyed in the wreckage of war, not only supplied millions of fighters and civilians abroad, but had enough left to enable the people at home to enjoy at least as high a standard of living as before the war.
Page 190 - ... consumption, as in the past our old agencies have done toward financing production. The first function of the new Board would be to make reports of its findings concerning business conditions; frequent, clear, public statements. The second function would be to advise the Government. The Board would inform the President, Congress, and the various departments, from time to time, of the probable effect on economic welfare, in view of existing conditions, of taxes, tax rebates, refunding operations,...