Business without a Buyer

Business without a Buyer

Business without a Buyer

Business without a Buyer

Excerpt

Business Without a Buyer is an attempt to give, in popular form, the substance of Money and Profits.

In 1925, when Profits was published, the announcement was made on the jacket that a prize of five thousand dollars would be awarded for the best adverse criticism of the book. That offer was heralded as unique. Until a week ago, we thought that it was unique; and then we discovered that, as long ago as 1848, there was published in Edinburgh a book by John Gray, called Lectures on the Nature and Use of Money, on the cover of which he offered a prize of one hundred guineas to any one who could refute his theory to the satisfaction of impartial judges. All of which gives another occasion for the remark, 'There is nothing new under the sun.'

Something new, however, seems to have happened within the past year, for whereas John Gray's offer of one hundred guineas failed to induce either economists or business men to come to grips with his argument, the offer of five thousand dollars for the best adverse criticism of Profits brought forth responses which, in variety, quality, number, and geographical range, astonished both the authors and the judges. Possibly no other economic doctrine has been subjected, in so short a time, to such determined efforts to destroy it by so many competent persons. Adverse criticisms to the number of four hundred and thirty-five were received from twenty-five countries and from professors of economics in forty uni-

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