Curtailing Production Is Anti-Social

  • Harold Hotelling


The success of the government’s recovery program, or of any national economic program, must be judged, not in terms of price levels, but in terms of the quantities of physical goods and services which are put into the hands of consumers. With this is to be considered the effect of the program on the distribution of wealth among different classes. But the chief thing needed is to increase physical production. In this respect much that is being done at Washington is definitely in the wrong direction. The attempts to increase the prices and curtail the production of oil, agricultural products, and other commodities are anti-social.


Overhead Cost Physical Good Physical Production Land Taxis Idle Factory 
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Copyright information

© Springer-Verlag New York Inc. 1990

Authors and Affiliations

  • Harold Hotelling

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