Capitalism the Creator: The economic foundations of modern by Carl Snyder

By Carl Snyder

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6 The latter term does not imply any vapid and empty phrase like 'consumer buying' and all its endless cousins; but covers the whole wide range of buyers, including all the factories and mines, the railroads and public utilities, and myriad other industrial enterprises, just as much consumers as those who buy groceries or clothes or fineries, or go to the moving picture shows. Simon Newcomb did not fuss or fiddle over whether this or that product was to be listed as consumers' or producers' goods.

As a result, and almost solely as a result of these measurements and observations, we now speak of astronomical knowledge as the very paradigm of finality. The question then arises, why, if these methods of measurement and correlation have been so marvelously successful and fruitful in the physical sciences, have they not been applied in the field of economics? The answer seems to be that digging out the material for all these measurements, from masses of statistical data not always readily available, is a deal of drudgery and requires very much patient labor and research.

36 CAPITALISM T H E CREATOR a leading political issue until about a half century ago. What do we really know about the effects of these high tariffs on our international trade and on our industrial growth? Elaborate data as to the value and character of our exports and imports are available from 1790. If we now plot these annual values from the beginning to the latest year what do we find? That the rate of growth of our foreign trade, while it varied widely from year to year, was over long periods comparatively steady; slightly higher, if anything, in the earlier time than in the later.

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