Index 187interest rates and savings, 168–69investments and savings, 162–69Keynes, John Maynard, xiii, 152nKnight, Frank H.Risk, Uncertainty and Profit, 142labor unions. See unions, laborlaissez-faire economics, 6, 85loans from government, 25–32,71–73See also commodities, contols forloans to government, 51–52, 155–56Ludditism, ixmachinery and unemployment,33–43, 181Man, Economy, and State (Rothbard), viiMarshall, AlfredPrinciples of Economics, 152nMarx, Karl, xiiiMarxists, 133Mencken, H.L., xMill, John Stuart, 15Principles of Political Economy, 152nminimum wage laws, viii–ix, 115–119Mises, Ludwig von, x, xii, xivHuman Action, viiTheory of Money and Credit, The,148nNation, The, xNational Railroad Adjustment Board,46New Deal, x, 31–32, 75–76New Leader, xivNew York Times, x,xiv,77Newsweek, xNorris Dam, 22Office of Price Administration, 107overexpansion of industries andinflation, 150–51Overproduction and Crises (Rodbertus),160parity prices, 75–81, 85, 101Pigou, A.C.Theory of Unemployment, 136pin making industry, 33–34Poverty and Waste (Withers), 161President’s Commission on FullEmployment, 56price system, 89–95price-fixing by the government, xiii,84, 105–13, 142–43, 148Principles of Economics (Marshall), 152nPrinciples of Political Economy (Mill),152nproductioneffects of government credit on,25–32effects of taxes on, 23–24profits, function of, 141–44public works, viii, 17–22, 145, 155–56rationing, 107–10real wealth, 146, 152Realm of Truth, The (Santayana), 176Reason and Nature (Cohen), xiiRecent Economic Changes (Wells), 35Reconstruction Finance Corporation,31“Refutation of Keynes’ Attack on theDoctrine that Aggregate SupplyCreates Aggregate Demand,” inFinancing American Prosperity (Anderson),152nrelief programs, 117–18, 126restrictions to farm production,100–03Risk, Uncertainty and Profit (Knight), 142
188 Economics in One LessonRobinson Crusoe, 90Rodbertus, KarlOverproduction and Crises, 160Roosevelt, Eleanor, vii, ix, 37Rothbard, MurrayMan, Economy, and State, viiSaint Joan (Shaw), 21Santayana, George, 36Realm of Truth, The, 176savingsBastiat’s savings vs. spendingexample, 159–62capital absorption and, 169–71effects on production, 164–66hoarding versus, 162–64investments and, 162–69scarcity economics, 93Shaw, BernardSaint Joan, 21silver industry, 83–84Smith, Adam, 146, 155, 178Wealth of Nations, The, 33–34,59–60social credit, 147socialism, 30soldiers, disbandment of, 51–52speculators (for commodities), 98–99spread-the-work schemes, 45–50stocking industry, 34, 42strikes, 123subdivision of labor, 45–46See also division of laborsubsidies, governmentfor businesses, 31–32for exports, 72–73and parity prices, 77, 79, 80price-fixing by the government,107, 108–09, 113schemes for saving industries, 86–87Sumner, William Graham, 178–79superinflation, 151–52supply and demand, 15–16, 91–92,97, 99, 138, 181Swiss Family Robinson, 90tariffs, 59–68, 75, 79–81, 83, 85, 86taxes, effects on production, 23–24taxes and public works, 17–22technocrats, 35–36technological improvements andunemployment, 33–43, 181Temporary National Economic Committee(TNEC), 36, 141–42Tennessee Valley Authority (TVA),21–22Terbough, GeorgeBogey of Economic Maturity, The,164n, 171ntextile industries, 41Theory of Money and Credit, The(Mises), 148nTheory of Unemployment, The (Pigou),136Theory of Wages, The (Douglas), 136TNEC (Temporary National EconomicCommittee), 36, 141–42troops, disbandment of, 51–52TVA (Tennessee Valley Authority),21–22U.S. Office of Price Administration,107unemployment and machinery, 33–43unions, laborlabor practices of, 36–37, 45–50,56wages and, viii, 116, 121–31,134–35, 153Value of Money, The (Anderson), 148nVeblen, Thorstein, xiiivon Mises, Ludwig. See Mises, Ludwigvon
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