Shirtsleeve economics : commonsense survey

Efforts have been made from time to time to present the "facts of life" with respect to economics in everyday, under standable terms, to make truth and accuracy in this field palatable to the "average citizen." The excuses for another try at this chore are the desirability of continued hammering at the front of ignorance, in any area, the need for new approaches and methods of presentation, and the special importance of a wider understanding of economic issues at the present critical state of affairs. The air is now more com pletely filled with misleading propaganda than at any previ ous period in history and it will require the utmost of effort on the part of all informed and honest men if this fog is to be dispelled.

The central proposition of this book is very simple: We can't consume any more than we produce and only through increased production is a higher standard of living possible. This has an important corollary: We must be everlastingly on our guard to check those influences and developments that tend to limit and discourage production. Among such is "social legislation" which emphasizes diversion only, with out regard to what happens to output. This proposition is almost axiomatic, but has nevertheless been generally neg lected in recent years. It deserves reinstatement as a basic consideration throughout all phases of economic inquiry and activity.