Balancing the Economic Controls

Balancing the Economic Controls: A Review of the Economic Studies of the Employment Stabilization Research Institute, University of Minnesota

RUSSELL A. STEVENSON
ROLAND S. VAILE
Copyright Date: 1935
Edition: NED - New edition
Pages: 104
https://www.jstor.org/stable/10.5749/j.ctttscdv
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    Balancing the Economic Controls
    Book Description:

    Balancing the Economic Controls was first published in 1935. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions. This very readable little book summarizes the economic aspects of the five-year program of research recently concluded by the Employment Stabilization Research Institute. The recommendations made, which are specific and practical, are based on the findings assembled in the course of scores of intensive studies. The authors discuss the competitive position of Minnesota and the Northwest, the prospects for new industries, what they believe to be the probable future development of the region, where government control of business might be applied beneficially, and what other methods would help remedy present difficulties. The program they outline might be undertaken, they believe, without serious disruption of American economic institutions and with good prospect of bringing about a larger measure of economic stability than has been achieved thus far.

    eISBN: 978-1-4529-3836-3
    Subjects: Economics

Table of Contents

  1. Front Matter
    (pp. i-vi)
  2. Table of Contents
    (pp. vii-viii)
  3. I. THE PROBLEM AND THE APPROACH
    (pp. 1-13)

    In modern society total production has never been sufficient to supply the desires of the people for consumption. Though a few people in each age have command of all the goods and services which the twenty-four hours of the day permit them to consume, the armies of the middle and lower classes have many unfulfilled desires. It has recently been estimated that in 1933 only about 4 per cent of the families in Minnesota had incomes of as much as $2,500. If the entire production of the state were equally divided among its people, the total family income would have...

  4. II. TURNING THE SPOTLIGHT ON THE ECONOMIC ACTIVITIES OF MINNESOTA
    (pp. 14-57)

    Contemplation of the social, economic, and political kaleidoscope of the Central Northwest discloses striking contrasts, many somber tints, and unpleasant groupings. The attempt to combine the two basic systems of control into one has not been wholly satisfactory. There are evidences of ineptitude both in private business and in political action. Let us hasten to add, however, that what is true of the Central Northwest in this regard appears to be equally true of the world in general.

    Agricultural experts tell us that if all their recommendations for improved production were put into practice at once, the world would be...

  5. III. ADJUSTING THE DUAL CONTROLS
    (pp. 58-72)

    The pattern of human society is constantly changing. This is true with respect to consumption, production techniques, and political institutions. It would be presumptuous to suggest that in any one lifetime a final social pattern could appear. Slow evolution, with its gradual acceptance and rejection of particular threads, has always been and will continue to be the order of the day. Within this limitation, however, individuals continue to attempt some direction of the evolutionary process. They scrutinize the field with an eye to the outstanding ear of corn — outstanding, of course, with respect to some particular objective that is...

  6. IV. SUMMARY AND RECOMMENDATIONS
    (pp. 73-82)

    If the reader has followed us thus far, it may seem perhaps that few positive or constructive recommendations have been made. In this final section, consequently, we should like to present some suggestions for a gradual changing of rules and a strengthening both of offense and defense in the interests of the economic well-being of the populace.

    Let us emphasize the fact at the outset that human affairs are continuous. “The King is dead, long live the King” applies as well to mundane business institutions as to monarchies. It may well be that the slow process of evolution, with the...

  7. INDEX
    (pp. 83-86)
  8. PUBLICATIONS OF THE EMPLOYMENT STABILIZATION RESEARCH INSTITUTE, UNIVERSITY OF MINNESOTA
    (pp. 87-96)