Guideposts in Time of Change: Some Essentials for a Sound American Economy

Guideposts in Time of Change: Some Essentials for a Sound American Economy

Guideposts in Time of Change: Some Essentials for a Sound American Economy

Guideposts in Time of Change: Some Essentials for a Sound American Economy

Excerpt

The invitation to deliver six lectures on the Merrill Foundation at Amherst College, of which this small volume is the embodiment, reached me after completing the W. W. Cook lectures at the University of Michigan, now published under the title: "Alternative to Serfdom." If I had known at the time of the earlier lectures that Amherst was going to honor me with a second opportunity of a similar sort, the division of labor between the two series would probably have been different--perhaps it is idle to speculate whether it would have been better. As they stand, while each volume can be read as a unit, the two are complementary.

One thing that could not have been foreseen at the time of the earlier lectures was that Russian relations would have moved into a phase of openly-avowed crisis, making a frank public statement on this subject appropriate. This threat is clearly the first condition which a sound American economy has to meet. The thoughts here expressed on this theme have been long germinating, and can be regarded as having been substantially formulated in the summer of 1947, while public discussion was still in its early stages. Perhaps the best fate one could hope for them is that, by the time they appear in print, they may have become familiar commonplaces. It is too much to hope that they should have become obsolete by a resolving of the international impasse. The subject proved too large to dispose of in one lecture hour, and in the published version . . .

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