Word: moultons
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Dates: during 1940-1949
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...glare has been removed from glass. The first practical process for treating big and small surfaces to eliminate light reflection was announced this week by its inventor, H. R. Moulton of the American Optical...
...William Moulton Marston (Good Housekeeping) has found "that men are annoyed by women who leave hair in washbasins...
...Moulton does his most important job on the now well-known theory that home-owned public debt can do no harm because, unlike private debt, it is owed by the people to themselves and merely recirculates money within the economic system. He points out that those who pay taxes to support the debt are not identical with those who receive 1) the interest on the debt, 2) the government bounties which the debt makes possible. Moreover, he asks, if Federal debt merely recirculates money, cannot the same be said under like circumstances of state debt? of municipal debt? of corporation...
Blasting the Superstructure. Moulton ridicules the theory that public spending can so increase the national income that taxes will increase to the point where the budget can be balanced. How come, asks Moulton, that this is just what does not happen in war, where national income rises sharply but taxes lag far behind? The war, thinks Moulton, proves not the benefits of public spending (as Hansen argues) but all its inflationary difficulties and collectivist consequences...
...Harold Moulton's pamphlet attacks only the theory of deficits without limits, does not attack all government deficit spending. He does not try to prove that government debt is bad; he does insist that it must be controlled. In doing so he has given enthusiastic spenders plenty to think about, plenty to answer...