The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. The Dividends of Prohibition

Collection:: Economics Books

The Dividends of Prohibition [87 Net Saving in Distributed Wealth Even if the expenditure for illegal beverages be as great as certain estimates make it out to be, it is largely the expenditure of the rich. At $2.50 a pint for whiskey, the poor, who mainly paid the former revenue of the saloon, can no longer afford to buy it. Economists agree that, except in cases where the dis- tribution of income is the same, a comparison of expenditures, dollar for dollar, in two different social strata is illusory, because ten dollars means to a rich man less than one dollar to a. poor man. It would be fairer to compare the present consumption with pre-prohibition consumption, not on a dollar basis, but on a quantity basis, and if, as in my opinion seems to be indicated, alcoholic consumption has been re- duced through prohibition to 10 or 15 per cent of what it was, the net saving in distributed wealth is great. Thus prohibition, with all its shortcomings, has probably had a part in raising the national income during the last few years, and so raising the earnings and prices of stocks.

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