Spending, Saving & Employment

Spending, Saving & Employment

Spending, Saving & Employment

Spending, Saving & Employment

Excerpt

JOBS--A JOB FOR EVERY WORKER--this is our problem number one. It is not a problem just now, for we are at war, and war gives us jobs. But when the war is over, jobs will be scarce again. Indeed, this will begin to be true as soon as we start to reduce war production.

The men and women who work for wages have had a hard time finding jobs throughout the whole of our national history, except for a few brief periods. The oldest persons among us can remember only two times of full employment--the first World War and the present one. Not only have we suffered from chronic unemployment; we have had recurring periods of mass unemployment.

It appears probable that we shall be very prosperous as soon as our economy is reconverted to a peace-time basis. Even so, it is not likely that all who wish to work will be able to find jobs. There were some two or three million workers unemployed during the prosperous years of 1928 and 1929. But however well we may do in providing employment in the post- reconversion period, the years of prosperity will be few. We shall presently be floundering in a depression, unless we take the steps that are necessary to keep ourselves at work.

Depressions are an integral part of the economic practices that we have followed and are still following. They have been as much a part of our national history as have periods of prosperity. One can be as certain that another depression is not far off as one can be of anything in the future that depends on human conduct. It is only by altering the practices that breed depressions that they can be avoided, and we are apparently not yet willing to do that, although we are moving in that direction.

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