Detroit evening times. (Detroit, Mich) 1921-1958, 1942-05-09
The Fruits Of Demasosy


University of Chicago formidable, recently concurred
In views which reflect widespread economic eracy in
the United States.
These men, instead of looking at the inner workings
of the economic system scientific manner concluded
that some business batting the matter of profit lnita
ton was needed for purposes of morale"
Those who resorted to this sophistry included Neil
H. Jacoby University of Chicago economist; Leo M
Cherne of the Research Institute of America and Thur
man Arnold United States assistant attorney general
Mr.. Arnold put it this way:
you are now getting back to what l think is the
principal element of profits and that is morale To
get morale to fix wages you've got to have profit
control :"
MR.. CHERNE argued:
lVl Il think the first evil (of profits is the injury
to morale. Fortunately, unfortunately profits,
excess profits, wages, wages will be
compared time and again. with the wages that exist in
the armed services"
Professor Jacoby concurred
Il agree that the morale effect of excessive profits
during is extremely important You can't expect
TO fight abroad at twenty-One dollars month
when somebody at home is making pile of money
You can't tie down wages you can't tie down prices,
unless you also tie down profits"
Thus, so-caled scholars, instead of clarifying the
atmosphere, cater to prevailing preudces and miscon
ceptions.
IT is dead wrong to create artificial antithess be-
tween the soldier in the field and the American profit
system which is part of the American way for which he
Is fighting
Every American owes great debt to its fighting
men, who should be honored well fed and well supplied
md adequately compensated.
In any circumstances, the men-in khaki bound
to make sacrifices
1t certainly will not serve the soldiers their families
to starve and destroy American enterprises which
they must rely for munitions and supplies now and FOR
EMPLOYMENT OPPORTUNITIES AFTER THE WAR
is OVER.
If demagogy bleeds American corporations white and
leaves them exhausted after the war this will be griev
dsservice to the nations fighting
Tor it will mean that after serving at meager pay in
i wartime, THE RETURNING MEN WILL FIND
DEARTH OF EMPLOYMENT OPPORTUNITIES IN
CIVILIAN LIFE IN THE POSTWAR PERIOD.
Any emotional confscation of reasonable profits will
bring on domestic "scorched earth" policy, which will
leave American productive enterprises iprepared for
carrying on in the postwar period.
No patriot wants undue enrichment profiteering
In wartime but unless there is sensible recognition of
the function of LEGITIMATE PROFITS in economic
development then the country will have to pay terrible
price for succumbing to PREJUDICE and DEMAGOGY.
Z VISITING and proposed corporate income and excess
L. profit taxes wage sterilization at current peak levels
plus the new ceiling prices and services will automa
cay correct any REAL dangers of widespread EXCES-
SIVE profit making
But if the professors and the politicians develop
emotional clamor against profits, THE NET EFFECT
WILL BE HARMFUL TO THE MATERIAL WELL
BEING Of 100000 AMERICAN FAMILIES.
1t is regrettabe that the savants neglected to point
the true fact that so-caed profit payment for the
of the tools and other provided out of the
savings of investors.
THREE DOTS AND A DASH For VICTORY