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Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.
Herbert Hoover
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Wealth, for the purposes of economic study, is confined to those values attaching to material objects through the action of man, which values can be exchanged /or other values.
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The idea of storage as a solution of economic problems at least has the support of common sense. It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy.
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Whereas economic man maximises, selects the best alternative from among all those available to him, his cousin, administrative man, satisfices, looks for a course of action that is satisfactory or 'good enough'.
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