The Other Side of the Coin

In studying the economy, there are usually 2 or more sides to a question, and ignoring one side or the other runs a serious danger of making woefully wrong decisions. Real full employment, at levels higher than have been experienced in peace-time over at least the last century, is to be reached within 2 or 3 years and maintained thereafter, with magnificent results not only in increased output and income, but reduced poverty, ill-health, drug abuse, crime, and commitment to the maintenance of a useless military superfluity. However, in order to accomplish this, budget balancing, puritanical abstinence, maintaining the value of the dollar, and servicing a favorable balance of trade must be thrown out. Attention should be focused on the real resources, human and material, that are on hand, and it should be decided how to use them effectively to produce real welfare.