The Present Economic Revolution in the United States

By Thomas Nixon Carver | Go to book overview

CHAPTER NINE SOME CONSEQUENCES OF A BALANCED ECONOMIC SYSTEM

I

THE most revolutionary idea ever injected into economic discussion is that of a balanced economic system. A balanced economic system is one in which all factors of production are combined in such proportions as will yield the most satisfactory results, and yield them automatically. To begin with, this idea is so new when stated in its logical entirety, as to be incomprehensible to any except those who have the patience to ponder it. Most men have their minds made up and cannot be induced to give this idea the full consideration that it merits. In the next place, its consequences are so alluring and so vast in their scope as to be unbelievable to those who have become somewhat pessimistic as to social amelioration. The man who has to be shown, the hard-headed, incredulous type of man, is the backbone of modern democracy and the safeguard of our institutions. He is suspicious of anything that promises too much. That is why he never goes in for socialism, communism or any of the thousand other isms that are dinned in his ears. The writer appre-

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