To Alana, Temah and Mya
Acknowledgements
I wish to extend my personal
thanks to Don B. Duncan and Steve Zarlenga, without whose backing, this book
would not have been possible Thanks also to Rana Arons as editor, Dolores
Grande as indexer and Don Hauptman as idea man.
Further acknowledgement
is due to:
1.
Macmillan Publishing Co., Inc. for permission to
quote from The Revolutionary Generation by E.B. Greene, @ 1943.
2.
Yale U. Press for permission to quote from The
Fathers of the Constitution by Max Farrand, @ 1921.
3.
Peter Smith Publishers for permission to quote
from The Foundations of American Constitutionalism by Andrew C. McLaughlin, @
1932.
4.
Van Nostrand Reinhold Co. for permission to
quote from Economics and the Public Welfare by Benjamin Anderson, @ 1949.The
Academy of Political Science for permission to quote from Political Science
Quarterly, @ 1935.
5.
New York Times Co. for permission to quote from “Economics
1-The Summit” in New York Times Magazine, Sept. 22, 1974, by Leonard Silk,
1974.
6.
Harcourt Brace Jovanovich, Inc. for permission
to quote from General Theory of Employment, Interest and Money by John Maynard
Keynes, @ 1936.
7.
Holt, Rinehart and Winston, Inc. for permission
to quote from A History of American Currency by William G. Sumner, @ 1874.
Author’s Note
1.
Nothing in this book should be construed as
being against the rich for being rich. I believe it is perfectly in accord with
justice when a man gets rich by creating economic values, and it is quite
legitimate when a man acquires wealth by a voluntary gift. What I am against
are people who get rich by the use of force and fraud, who make themselves
better off by making others worse off. The exposure of such a fraud and the
spotlighting of the manner in which force is used for this end are the purposes
of this book.
Foreword: The Dismal
Science
Economics, dear reader, is one of the most important
aspects of your life. You either work or are dependent for your life on someone
who does work. Unless you are a rather odd recluse, you use money and engage in
trade. And you probably spend a good part of your waking hours engaged in
economic activity.
However, economics has become known as the Dismal
Science — a title it acquired by virtue of being so boring. The reason the
subject of economics is regarded as dismal is that economists have taken a
false approach, which I call the little brother complex. Economists look upon
the physical sciences (especially mathematics and physics) with the awe and
admiration reserved for a little boy’s attitude toward his older brother. They
adopt a pseudoscientific guise and try to imitate the physical sciences in
every detail.
Economics is a social science; it is a science
dealing with man. Inherent in this is the fact that economics must deal with
moral issues; it must deal with issues which arouse passions. But economists
regard any passion or emotion as a weakness; they brand such aspects as
unscientific.
When the social sciences try to imitate the physical
sciences too closely, they overlook precisely those qualities pertaining to
man, such as free will and morality. That is not true science, but it is very
dismal. Free will and moral issues must be taken into consideration in any
study of man. They are facts.
This book is about economics; but it is not dismal.
It tells about a small group of men who depreciate the nation’s currency
through their control of the money system — and thereby steal billions of
dollars from the common people of this country. It talks about justice. And it
talks about the evils which are yet to follow from this system if it is not
destroyed.
So, dear reader, the author must offer an “apology.”
This will not be the typical dispassionate, pseudo-scientific, dismal economics
book. It should not be disparaged for that reason. True science proceeds by
reason and common sense. If the conclusions reached are also passionate, so be
it. The Dismal Science has not achieved any great success.
Contents
Chapter I A Great
Forsaking
Chapter II Paper Money
Chapter III Who Gains and
Who Loses?
Chapter IV Modern
Theology
Chapter V The Modern
Priesthood
Chapter VI The Legal
Aspect
Chapter VII “How You Can
Profit From The Coming”
Chapter VIII What Really
Goes On In The U.S. Economy
Afterword
Appendix A The
Calculation Of Gross National Product
Appendix B The Robber
Barons Vs. The Modern Businessman [missing]
ILLUSTRATIONS (Not yet
available)
THE VALUE OF THE U.S. DOLLAR, 1790-1973
GROSS NATIONAL PRODUCT AND REAL VALUE OF TAKE HOME
PAY, 1965-1974
REAL TAKE HOME PAY, 1942-1974
UNEMPLOYMENT IN TWO PERIODS, 1900-09 and 1960-69
CORRELATION BETWEEN MINIMUM WAGE AND UNEMPLOYABLES
6A. COMPARISON OF RAIL STOCKS IN PERIOD OF DECLINING
PRICES AND PERIOD OF RISING PRICES
6B. COMPARISON OF REAL WAGES IN PERIOD OF DECLINING
PRICES AND PERIOD OF RISING PRICES
This material is made available with the generous
permission of Howard Katz (1931-2012).
Copyright © 1976 by Books in Focus, Inc. ISBN
0-916728-01-3
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