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THE ECONOMICS OF UNEMPLOYMENT

that their new system will satisfy the needs of high productivity as well as of equitable distribution, they are right to go behind the progressive policy here cited. I am satisfied to leave the proposals for reform at a point that is in line with the actual movements which I perceive to be in operation in most modern industrial communities, disbelieving both in the need and the practicability of wholesale sudden transformations, either in human nature or the institutions it imposes.

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