SPENDING, SAVING AND EMPLOYMENT by H. Gordon Hayes

SPENDING, SAVING AND EMPLOYMENT

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KIRKUS REVIEW

A challenging book on depression unemployment which is more than a little iconoclastic. His main thesis is that saving -- carried to excess as today -- reduces production, and that consumption is the key to employment. He quotes current figures to sustain the old contention that too much of the national income goes to the few who have not the will -- nor need -- to purchase. Wage increases would bring about the balance needed to prevent prosperity turning into depression. Is war to prove the only agent to full employment? He indicates that government planning -- and in some cases ownership (i.e. -- TVA) would provide fuller employment, for longer periods. He analyzes and clarifies theories of economists -- past and present; throws doubt on the ability of business left to itself to prevent depression. Thought provoking -- interestingly written so that the layman can read and learn. Controversial.

Pub Date: Nov. 22nd, 1945
Publisher: Knopf