Suchergebnisse

Whether, some day, the twentieth century may claim to have inaugurated as fundamental a change in economic organization as did the monetary revolution of the sixteenth and the industrial revolution of the eighteenth century is still an open question. While in most European countries the transformation is evident, and from Spain to Scandinavia and from the British Isles to the Balkan states, it has been intensified under the impact of war economy, American public opinion still hesitates to admit any break with the past. Most people believe that expansion of governmental activities, concentration of economic power, rigidities, monopolies, public indebtedness and taxation as consequential as they are should be evaluated as accessories of an economic system which in its foundation has remained intact. In its very essence, this system is supposed to rest upon the great principles of private property, freedom of enterprise and social mobility.