Word: sumption
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Dates: during 1930-1939
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Where there are subsidies there is apt to be graft and corruption. On that as- sumption the U. S. Senate last summer began looking into air and ocean mail contracts. A special committee headed by Alabama's Black found that U. S. shipping men bought vessels for almost nothing from the Government and then collected fat fees for carrying almost no mail, that U. S. airline executives made big speculative profits while small concerns were being frozen off the air mail map. But not until last week did Senator Black and his committee strike pay dirt that, in newspaper...
...Harvard School of Business last week issued a small opus entitled The Behavior of Consumption in Business Depression. Its author was Arthur R. Tebbutt, instructor in Business Statistics. It was a nice dry statistical study tending to show by many tables just how much con- sumption fell off from 1929 to 1932, but it packed a punch in its conclusions-a punch at the theories behind the Industrial Recovery...
...aggregate, consumption of goods by the ultimate consumer has re- mained at a very high level even during depression. . . . Judging the character of stagnation in business solely on the basis of consumption, we find that the depression is marked by sharply reduced con- sumption of producers' goods. That the way out of depression is to increase consumption of producers' goods seems evident. ... At the present time, however, if such a balanced recovery does occur, it does not seem likely that it can be attributed in any large part to the current activities of the Administration...