A Creative Capitalism: Intended to Reveal Where Depressions Start, Where Lasting Cure Must Begin and How Cure Can Be Had within the Capitalistic System of Private Enterprise

A Creative Capitalism: Intended to Reveal Where Depressions Start, Where Lasting Cure Must Begin and How Cure Can Be Had within the Capitalistic System of Private Enterprise

A Creative Capitalism: Intended to Reveal Where Depressions Start, Where Lasting Cure Must Begin and How Cure Can Be Had within the Capitalistic System of Private Enterprise

A Creative Capitalism: Intended to Reveal Where Depressions Start, Where Lasting Cure Must Begin and How Cure Can Be Had within the Capitalistic System of Private Enterprise

Excerpt

The story we offer deals simply and almost entirely with familiar things; jobs, money incomes, savings, investments and the like. To us it seems fascinatingly hopeful because in those commonplace things are found the causes and the cure for depression--all within the limits of private enterprise.

Advanced nations like our own, as everyone knows, suffer periodically from wide-spread cold and hunger with no visible reason other than the fact that more clothing and food and other things have been produced than can be sold. To cure that condition requires first the understanding of its cause.

Karl Marx and his disciples insist that the very principles of capitalism and privately owned enterprise are to blame; especially the collection of a profit. Yet western peoples value the freedoms nurtured under capitalism, the open doors it maintains for those with energy and ability, the great strides in productive capacity made under its incentive of personal gain, and the outstanding advances it has brought about in the standards of living of even the humblest of workers.

The prospect of profit--of reward commensurate with effort, offset with the personal risk of loss--has of course been recognized as the energizing yeast within our western life. That yeast and the freedoms which go with it we would like to preserve; but somehow this matter of tragic depressions must be overcome before capitalism can command confidence as a truly creative economic system. How that can be done without sacrifice of its great virtues is a problem in economic engineering, a problem which we believe is now solved. Our happy but by no means easy task is to give you an accurate view of the causes and the possible remedy.

The facts brought into perspective, to be sure, often deal rather roughly with pet ideas embraced and taught by many professional economists. Believing, nevertheless, that facts should . . .

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