Show CAN COME AGAIN GOOD TIMES Reviewed by John Edwin Price Quotations with permission Stephen Leacock head of the dc- dc d e- e ef of oC Political Economy o or f McGill university Montreal has hag a an n interesting article under the above e title HUe in the June issue of oC CUR CUR- CURRENT tENT RENT HISTORY He says say 53 Five years ago th e worlds world's industry running at to top p speed peed almost almot came to a full stop top The world economists stand tand Jike lik e mechanics round a broken motor motorcar moto motorcar r car tapping and tinkering What Wha t went wron wrong 7 How can it be Bet se seright t right 7 What measures of recon recon- reconstruction reconstruction definite clear dear immediate and flexible could restore and main maintain thin tain in t the tho prosperity of the United Unite United Sa States res 1 t The writer states that the suc- suc eM of running the old machine on individual ownership was in a way wn more apparent than Hum real more at atthe atthe althe the top than at the bottom more fo lucky few than the innumerable rable erable many I kept with it In at attendance at- at attendance attendance poverty but Lut hid it away forthe most part in slums Blum and dark corners He reminds us ui that Adam Smith and Thomas Thoma Jefferson et al aI thought the old machine would run forever because every man for really ment every man manfor manfor for all aU I Over wages indeed there hung hunga a shadow that that was the dark corner But in an any case ca e it was argued the dark corner was a as light a as it could L be Wages were as a high as the facts of the situation allowed A Aman mart man got ot aU all that was coming to him sir says pays the War speeded up the machine and broke it and continues How continues How ca can caw n we get back to where we were and an annever annever d nd never again come to where we are arc I 1 It is at this point of the argument t that voices arc are raised d in favor faor ot o f abolishing atto altogether ether our social and replacing it by som some w e kind of or socialism or communism But Dut this is worse and escape from the theS frying fring pan to the tire fire fir from a sizzling to a final combus combus- combustion combustion tion enin The sizzling ma may at l least kast ast nin c-nin en d In a cooling down but Lut the fire end s everything Let us sizzle a little longer ertI Possibilities under controlled in- in in inflation are discussed and then then- then This then This much of the older doctrine doctrin was true that the worlds world's paper page r metallic money must have as its basis m me money of intrinsic value with wit b 1 the paper only as its shadow and an bd d reflection Speaking of manage managed d currency the author says You Yo gy u mi might ht as well talk orn of or a n managed wife He Hc says that if iC the old econ economic eco n omit machine were started running e it would soon bo Le up to it its ita old of d tricks again What is needed then is stead steady Y continual consumption of things thing s made The table must be spread d and at every meal Pow Power Powe r to order the meal must be t ted ed d in generous generou quantities among amon e the great reat mass of or the people Thi This s cannot be done dono by freak frenk schemes scheme of overnight credit or by z ing old men It can be only through h the apparatus of or wages and profits profit s What we must have is iJ not a rev revo- revo o revolution lution of society but a in the th oe e rules of tho the game that will make male it easier to gain a little and hardeo harder harde r o gain a lot Observe that it cannot be don done doneall donall all at once |