Business and Reconstruction
The report on reconstruction prepared by the Federation of Brim Industries accepts in principle most of the current ideas that ha now almost become truisms, acknowledging the need for world c operation, especially co-operation with the United States, increas world purchasing power, and the promotion of consumer intern in this country. Although it bows to the necessity of retaining " measure of Government control " over industry after the war, it pu the emphasis on the need of private enterprise, and appears to co sider that industrial organisation should be carried out throug " trade associations." The Federation does not seem to have mov far from its pre-war attitude. Of much greater interest is the repo of the London Chamber of Commerce on " General Principles of Post-War Recovery." This is a real attempt to face the nc situation in a modern spirit. It starts from the proposition th under-consumption, unemployment and economic belligerency ha been the causes most productive of evil in the past, and points o the absurdity of nations desperately attempting to export more their real wealth than they receive in return, and the denial purchasing power to men in want of the necessaries of which the is a superabundance. For the attitude expressed in the phra " capturing markets " must be substituted that of " good neighbou liness." Effective demand must be equated with supply. Th report, unlike that of the F.B.I., does not leave its generalisations the air. It advocates, among other measures, the establishment a blocked credit in the country of the debtor in favour of t country of the creditor, who would be paid in national money b his own exchange control. It deserves close study.
Previous page
