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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