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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II. President Hoover Acts

Collection:: Economics Books

22 The Stock Market Crash—And After self. Through personal interviews and public con- ferences with leading employers he sought to set standards whereby, so far as they were concerned, there would be no movement to reduce wages. Cor- responding assurance was obtained from the leaders of organized labor that they would help allay con- flicts in full cooperation with employers, avoiding all issues that involved wage increases. By this coopera- tion between Capital and Labor, continuity in con- sumer’s purchasing power was assured, with the re- moval of fear of general unemployment. This would not, of course, increase consumers’ purchasing power, except to some extent through possible changes in distribution of products among workers, managers, enterprises and capitalists. The point was that pur- chasing power would be kept from decreasing through any serious stoppage of the wheels of industry. The third step was of a more permanent nature. [In the President's words, it was to ‘‘undertake, through voluntary organization of industry, the con- tinuity and expansion of the construction and main- tenance work of the country, so as to take up any slack in employment which arises in other directions.” The President continued : “The greatest tool which our economic system affords for the establishment of stability is the con- struction and maintenance work, the improvements and betterments and general clean-up of plants in preparation for cheaper production and the increased demand of the future.

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