We Do Not Manufacture Wants For Goods

It Had Been Held That The Economic System, Any Capitalist System, Found Its Equilibrium At Full Employment. Left To Itself, It Was Thus That It Came To Rest. Idle Men And Idle Plant Were An Aberration, A Wholly Temporary Failing. Keynes Showed That The Modern Economy Could As Well Find Its Equilibrium With Continuing, Serious Unemployment. Its Perfectly Normal Tendency Was To What Economists Have Since Come To Call An Underemployment Equilibrium.

The Notion Of A Formal Structure Of Command Must Be Abandoned. It Is More Useful To Think Of The Mature Corporation As A Series Of Concentric Circles.

Of All The Weapons In The Federal Reserve Arsenal, Words Were The The Most Unpredictable In Their Consequences.

The Modern Corporation Must Manufacture Not Only Goods But The Desire For The Goods It Manufactures.

It Is The Good Fortune Of The Affluent Country That The Opportunity Cost Of Economic Discussion Is Low And Hence It Can Afford All Kinds.