The Stabilization of Business

The Stabilization of Business

The Stabilization of Business

The Stabilization of Business

Excerpt

We are constantly reminded by some of the economists and business men that the fluctuation of the business cycle is inevitable; that there is an ebb and flow in the demand for commodities and services that cannot from the nature of things be regulated. I have great doubts whether there is a real foundation for this view. Thirty years ago our business community considered that a cyclical financial panic was inevitable. We know now that many of our industries are themselves finding methods for insuring more continuous operation of their plants during these ebbs and flows of demand.

An analysis of the business cycle quickly brings one to the separation of our production of consumable goods from the construction of our plant and equipment -- that is, our houses, our public utilities, our public improvements, our public works. The ebb and flow of demand for consumable goods probably in the main may be uncontrollable. There is more hope that we could direct certain branches of our construction and equipment, such as public works, the greater utilities, in such a fashion that we could provide the finances and then delay construction until periods of depression, and thereby shift our . . .

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