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Capitalism Here & There
By DeWitt Emery
To an American, capitalism means a system under which millions of people pool their resources to finance a large number of private companies which compete with each other in the production and distribution of everything from toothpicks to locomotives. This puts a great variety of goods on the market and the consumer, by showing a preference in his buying for the products of one company over another, decides which companies stay in business and prosper.
Because the consumer has the merchants compete with each; other for his favor on price, qual-' ity and service. The inefficient can’t compete in a way which attracts the consumer’s dollar and consequently sooner or later fali by the wayside.
The competition among manufacturers to be most efficient has brought forth mass production methods resulting in comparatively low costs and lower prices. It has also brought a general realization that the producer and the consumer are one and the same person, and that if automobile workers are going to buy furniture and furniture workers are going to buy automobiles, then both industries must pay the highest ’
him before he regains consciousness; girls who read history and Shakespeare don’t stand, much of a chance matrimonially^”— • —~
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A recent article in a farm juornal told of a Mr. and Mrs. out in a western state who operate the community electric power plant. Mr. does the work and Mrs. helps keep th books. One day she found a penciled invoice from Mr.: ‘$40 for wench.” She worried for a few days, and finally confronted him with the written item. "It’s part of the machinery," he explained, "used for lifting heavy objects onto the truck.” She made him study spelling every evening for the next month.
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