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CONTENTS
PAC.B
The  Fallacy  that  Saving  implies  no  Reduced  Consumption ­
  80
The  Limit  to  Social  "Saving"—No  Limit  to  Individual
"  Saving  ”  81
How  Self-Interest  of  Individuals  Causes  Social  Waste
of  Capital  83
85
86
88
91
92

The  Difference  between  Individual  and  Social  Economy
A  Nation  is  not  a  Community
The  Motives  of  Under-Consumption
Excess  of  Capital  a  Result  of  "Unearned”  Incomes
No  Repudiation  of  Uses  of  Individual  Thrift
APPENDIX  B.  Effect  of  Under-Consumption  on  Employ
ment

93

CHAPTER  VI

THE  ECONOMIC  REMEDY
The  Remedy  lies  in  a  Reformed  Distribution  of  Consuming-Power ­
  98
Lines  of  Social  Policy.  Taxation  of  "  Unearned  ”  Income  .  99
Various  Forms  of  Social  Property  Amenable  to  Taxation  .  .  100
Working-Class  Movement  for  Higher  Wages  103
Increased  Consumption  gives  Validity  to  Increased  Saving  .  104
Effect  of  a  Shorter  Working-Day  upon  Consumption—
Cases  where  Output  is  Maintained  105
Where  a  Shorter  Working-Day  Means  a  Smaller  Output  .  .  106
Where  the  Cost  of  a  Shorter  Day  comes  out  of  Profits  .  .  106
Where  the  Cost  comes  out  of  Higher  Prices  107
Where  International  Competition  Keeps  down  Prices  and
Profits  108
Increased  Leisure  a  Condition  of  Rising  Consumption  .  .  109
A  Summary  of  the  "  High  Consumption  ”  Policy  ....  110
This  Policy  Involves  no  Social  Danger  no