Unemployment in the United States

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Monograph

Identifikator:: 1828236179

URN:: urn:nbn:de:zbw-retromon-226169

Document type:: Monograph

Title:: Unemployment in the United States

Place of publication:: Washington

Publisher:: United States, Government Printing Office

Year of publication:: 1930

Scope:: II, 193 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Statement of Dr. William T. Foster

Collection:: Economics Books

72 UNEMPLOYMENT IN THE UNITED STATES usual amount of unemployment.” We have always talked as if nothing could be done about it. It seems to me that we have heard for generations the words “the uusual amount of unemployment.” We have supposed that evils had to grow worse before business could grow better, It was what was referred to as the economics of original sin. Some writers have tried to show it was due to the spots on the sun. The economics of original sin is what I would call the economics of despair. It is the economics which have been dominant for genera- tions; and one of the chief reasons why nothing has been done hitherto by governments in a constructive way toward the solution of the problem of unemployment. Great talk has been made about the necessity of action and reaction. In recent years we have arrived at a different expression of economics, It is the economics of faith; faith in the capacity of men to use their reason to control their economic destiny. Now, why do I give this long introductory? It is an attempt to point out that these three bills are of more significance than most people realize. They are expressions of the abandonment of eco- nomics of original sin and despair. They are expressions of the opinion that we can do something about it. We do not have to sit around and watch business conditions go from bad to worse: before we can make them better, That is why I say that these are not simply trivial. You may say, for example, as I heard said to-day, that $150,000,000 provided for emergency public works is merely a drop in the bucket. It would provide for 300,000 men employment for 100 days at $5 a day. Even 80, to each of these 300,000 men who can go through a winter unem- ployed, it is not a drop in the bucket. It is very important to them. Under the bill this is appropriated by advance planning at a time when it is but a measure of prevention. So it provides also for the employment of other men. But that is not the biggest thing about this bill. The biggest thing about this bill is that for the first time in history we have recognition of the principle that the Government of the United States may in its expenditures for the conduct of its own business, take into account the conditions of business in general. Mr. Cerrer. This $150,000,000 is in excess of and in addition to all the other appropriations? Mr. Foster. The bill provides only that this $150,000,000 shall be expended in reference to business conditions as shown by indexes of unemployment, ete. Mr. CerrLer. There would be this in addition to other employment? Mr. Foster. If the bill is unsound in principle it should not pass. If it is sound there is no reason why it should not be extended from time to time to other Federal appropriations which are subject to allocation. As far as visible the principle could be applied to other appropriations of the Government. Furthermore, it is only carrying out in the realm of public business, what President Hoover last fall urged private business to carry out. He called in the officers of public utilities and railroads and other public bodies, and other large corporations, and urged them in their appropriations to take account of business fluctuations, to appropriate more money when business needed more wages; less money ine time of boom, when there was less need for wages to be spent for consumers goods.

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