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Wage-Fixing (Routledge Revivals) by J. E. Meade

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CHAPTER XI

Summary of Conclusions: The Way Ahead

The UK economy is at present suffering from mass unemployment of labour and from under-used capital equipment. At the same time there are a thousand and one useful things which these unused resources of men and machines might produce — goods and services for the underprivileged at home and abroad, improvements in public services and amenities, the renewal and improvement of capital equipment for future industrial production, a general rise in standards of personal consumption, and so on and so on. To one who took up the study of economics in the 1930s because he thought that the phenomenon of mass unemployment — of poverty in the midst of potential plenty — was both foolish and wicked and who had ...

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