Groves, Prof. Harold M.
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Coming to the conclusion that economic thinking has to be revised, with example. The waste of unemployment. Some figures from the American Federation of Labour. The national loss from unemployment and what that includes. Some figures to indicate the American standard of living. Evidence to prove that unemployment is not just a problem during depressions. Some words from Doctor Wesley C. Mitchell from "Recent Economic Changes." The difficulty of grasping the full human tragedy of unemployment. Unemployment insurance covering 45,000,000 workers in at least 10 countries. European models of unemployment which need not necessarily fit the requirements of the United States. Labour legislation in the U.S. the province of the states, not the national government. Attempts to meet the criticisms of European insurance laws, and to make a constructive step toward reducing the bad effects of unemployment through the Wisconsin unemployment compensation law. A description of the Wisconsin Act and its provisions. Voluntary systems of unemployment reserves. Criticisms against the dole. The speaker's belief that this legislation is a panacea and that proponents of it have no idea that it is so. The principles on which this legislation is grounded, discussed in some detail. Criticism against the Wisconsin Act, also with detailed discussion. The issue of unemployment insurance. The human wastage caused by unemployment second only to that caused by war. The need for some war-time courage to face this problem. The non-solution that is charity. The need for prevention, for a radical change in the machinery with which we attempt to cope with unemployment, for a compulsory unemployment compensation system. A consideration of the effects of unsteady employment upon the life of a city. Ways in which unemployment bears down upon the worker. The argument for industrial unemployment reserves. The principle of reserves one that is well recognized and widely practiced in business. The principal objections raised to the industrial reserves system, and response to them. The principal objection which one encounters to each and all unemployment remedies, and the speaker's response to it. The industrial future of any state and upon what it depends. The short-sightedness of an economy which permits the huge wastes of unemployment to continue.