Show A stupid situation the present industrial conditions in the united states were called a grave but stupid situation in a radio address delivered by col woods head of president hoovers emergency employment committee he dwelt upon the idea that while we have unrivalled natural resources a surplus of producing power and abundant capital there are now a lot of people who want work but cant find it he suggested how these conditions are caused by the enormous development of modern business which has become so complex that at times it becomes unmanageable it is a situation not unlike what happens in some theater when some foolish person gets up and yells fire even if there is no fire at all people may get so scared that they trample on each other in a mad rush for the doors so at the present time when people are possessed by imaginary fears or when their imaginations lead them to inflated production and speculation they upset our delicate industrial machinery imaginary fears lead them to refuse to buy the things they can well afford to purchase and in times of inflation their exaggerated confidence leads them to spend and buy extravagantly in the latter case a surplus of commodities is created which has to be worked off before business becomes normal these conditions are difficult to regulate by legislation since it is the foolish impulses of human conduct that create these troubles attempts by the government to control such impulses are likely to do more harm than good what is needed now is for people to realize that our country with its great wealth never suffers long from bui ness reverses but after a short nenod ot quite and recovery trade is always soon active again |