The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-04-12
Liberal Viewpoint
by DIR. HARRY ELMER BARNES =

| IT has been asserted that our school text books
Il on economics should be rewritten to take into
account the new deal and it's implications. Few
however, went SO far as to hope that the leading
economic adviser of President Roosevelt would
prepare systematic work on economics for use
| in our high schools. But here is book written
| by Professor TugWell, in cooperation with Pro-
| feSSor Hill of the University of Chicago COur
Economic Society and It's Problems" BY ,Rexford
| Guy TugwelI and Howard G. HILL Harcourt
/ Brace. $3.50.
| The work is fresh original and extremely
illuminating description and analysis of con-
| temporary American economic life, all written
with the aim of answering the question of how
can we raise our levels of living?"
Those who have feared that Professor Tug
we'll lacks breadth or background will have any
such ideas fully diSsipated by reading this book
If every American pupil of high school age could
be compelled to read and study it carefully, we
would have deal within another genera
| ton, whatever happens to the present Roosevelt
experiment.
Professor Atkins recently edited an excellent
textbook in college economics. He now has
prepared an original and stimulating volume
for high school students ('Our Economic
World" BY Willard Atkins and Arthur Wubnig
Harpers. $3.50. While the book is not as revo-
lutionary that by Professors Tugwell and Hill,
it is certainly vastly superior to the majority
of books in the field and should do much to
create civilized intelligent and competent Amer
lean citizens.
PROFESSOR BYE of the University OF
l. Pennsylvania has brought out a new
edition of his excellent book on applied eco
Monies, written in conjunction with Professor
Rewett of the University of Cincinnati C'Appled
Economics" by Raymond Bye and William
Hewett. Crofts, $3.50. Much new material has
been added to cover such contemporary prob
lens as initiation, FaScism, Communism and
economic planning It is intended for college
use and ought to help immensely in introduce
ing some realism into the economic perspective
of college students.
The long and profound depression in which
we still founder has stimulated interest in the
study OF the business cycle. But most works on
this subject have adopted so1S of fatalistic at
titude and have implied that nothing could be
done about it. Professor Clark takes different
point of View C'Strategic Factors in Business
Cycles" by John Maurice Clark, National
Bureau of Economic Research, $3.50.
While accepting the reality of the business
cycle he contends that certain factors in our
business life can be controlled in such fashion
as to help stabilize business and lessen the dis
astrous results which accompany the periodic
oscillations Of prosperity and misery.
DR.. Burns has prepared highly scientific
production in the United States since the Civil
and accurate study OF the growth Of economic
war cProduction Trends in the United States
Since 1870" by Arthur F. Burns National Bureau
OF Economic Research, So. He comes to the
conclusion that there has been no evident de-
cline in the rate of growth in the total physical
production Of this country since 1870.
Individualistic capitalism thus has kept up
production, but it has made no comparable eff
fort to insure parallel growth in the purchas-
ing power Of consumers. Without this, our pro-
ductsYs record has only led Us into the abyss.