The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1942-08-06
Labor News From Britdin

tiOn, described as basic in the Fedora
tion's report, Is an increase Of world
purchasing power. Emphasis is laid
upon the necessity of obtaining a
closer equation between the purchas-
ing power Of the primary and second
airy producing countries This involves
some regulation OF production. But this
cannot by itself form basis for de-
veloping world prosperity. The position
of the less well-develOped areas Of the
world which will help to raise their
standards Of life, and improve their
economic position, must also be So
cured
Keeping Government Control On
1t Is significant that the Federation
of British Industries in this report,
recognizes that during the immediate
postwar period Government control
must to some extent be maintained. The
more permanent association of Gov
ernment with industry must, however,
the report insists, find its justification
on economic grounds. Insofar as it
proved to be necessary, the Federation
suggests that it will have to be carried
out by agreement and in collaboration
with industry. Measures must be taken
to avoid the danger of bureaucratic in
fluence and the sitting of individual
effort and private enterprise.
The third document which has struck
| the Imagination of trade unionists even
more than the other two pronouce-
ments is report of the London Cham
Der of Commerce on the general prin-
cipleS of a postwar economy. This
| body has a direct membership of 5000
firms and companies, and 80 industrial
and commercial associations, with an
approximate membership of 10000, are
affiliated to it. Its guiding minds are
robust and even radical, and these
qualities are displayed in its report,
framed by special committee of its
Council
! The report starts from the assertion
that there has been something radio
ally wrong with our economic system.
1t was palpably absurd, the report
says, that nations Should be desperately
anxious to export more of their real
wealth to other nations than they re-
ceive in return. 1t was equally absurd,
it goes on to say, that men in want of
the neceSSa aries of life should be de-
MED the money with which to buy them
because there was Superabundancc
of those neceSSarieS and therefore
their services were not required to
make more. There must be serious
to such ridiculous results.
Mass Consumption Problem
The report further asserts the view
that modern technique is capable of
those actually produced during the p
years between the wars. The limiting
factor in production, the report says,
has been the failure to distribute To
would-be consumers enough money to
buy the potential output.
Mass production implies mass con-
sumption. But the system Of distribut-
| ing purchasing power was evolved dur
ing an age of scarcity. 1t aimed at en-
suring maximum production with mini
mum consumption. In consequence there
was a downward pull on the standard
of living for the masses of the ad-
vanced nations, whereas, on the other
| hand, the volume of output made pos
sible by power production was eyerting
an upward pull. Clearly therefore the
necessity is tO incrpa Sp thp pllrchn s.
ing power Of the masses in order, as
the report says, to provide buyers.
| without which the goods will not for
| long be produced.
The London Chamber of Commerce
problems are to be solved: elimination