Wairarapa Times-Age SATURDAY, FEBRUARY 6, 1943. AN ALTERNATIVE TO SLUMPS

Wairarapa Times-Age, 6 February 1943, Page 2

Wairarapa Times-Age SATURDAY, FEBRUARY 6, 1943. AN ALTERNATIVE TO SLUMPS

POLITICIANS otherwise of diverse inclinations and shades, and in various countries, including our own, are declaring with every appearance of confidence that this Avar will, not be followed, as the last one was, by a paralysis of production and trade resulting in widespread unemployment and distress. Although it would perhaps be unwise to rely too much on politicians in the matter, it is undoubtedly- well within the bounds of possibility that these hopeful anticipations should be realised and that continued effective use should be made of the immense powers of production which have been stimulated so remarkably and in some instances expanded and enlarged astonishingly in meeting war demands.

It is true that New Zealand, like other countries, will emerge from the Avar loaded with heavy additional burdens of debt, but the only hopeful method of carrying and eventually redeeming these obligations will be to develop the highest possible level of production and of consumption. Production and consumption are linked inseparably. It was very largely the choking of consumption by monetary inflation which led to the years of slump that followed the last Avar. Obviously, too, throwing a large proportion of the people of any country out of employment and on to some sort of dole is as good a method as could be devised of making debt burdens insupportable.

Both in Britain and the United States there is what the “Christian Science Monitor” called not long ago a “general trend toward placing on government the basic, responsibility for maintaining some minimum standard of living—either by priming the pump of business enterprise or by various forms of social insurance.” On the other hand, some people are of opinipn that the task of maintaining employment and production at the level needed to ensure social and national wellbeing can be handled much more hopefully by private enterprise than under State regimentation. For instance, Mr Henry J. Kaiser, an American business leader who has become famous as a w"ar time builder of ships and aircraft, “thinks private enterprise can provide the jobs workers need, the houses, cars, and other goods and services the consumer wants, if it will plan and organise now for the post-war days.” On these claims the “Christian Science Monitor” comments: — One way or another, there is going to be social planning. If business men do not want it. done by politicians, they will need to take Mr Kaiser’s tip and do more of it’ themselves. This statement of alternatives has its full point and bearing in New Zealand as well as in the. United States;