Full Employment

Full Employment

Full Employment

Full Employment

Excerpt

The crux of a sound policy for the United States is the knowledge that domestic economic measures and domestic economic measures alone can bring permanent prosperity and full employment. Many are inclined to say that sound domestic policy is one thing and sound foreign policy another. But in the long run the latter is impossible without the former.

The two halves of this thesis both deserve the closest scrutiny. First, that the United States can have lasting and guaranteed full employment without resorting to external expansion or aggression in any shape or form, if the American people will understand the conditions making that possible and will insist upon having them. Second, that lasting and guaranteed full employment can never be achieved by means of a conventionally vigorous economic foreign policy -- which at best can make temporary jobs, probably for the most part in munitions plants or with the nation's armed forces.

This book, however, will deal at length with the first of these contentions only, for the pitfalls of "mercantilism," economic imperialism, and anything of that kind appear to have been better described, at least, than the home possibilities. Regarding the pitfalls referred to a few preliminary remarks will be sufficient. A beginning may be made by advancing certain working assumptions about the essential interests of the American people in foreign affairs.

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