By Anthony Powell
In Agents and Patients, we go back to London with the newly prosperous, memorably named Blore-Smith: an blameless, good sufficient chap . . . and a drip. liable to the machinations of these with much less cash and extra lust, Blore-Smith falls sufferer to 2 con artists whose ploys hold him via to the paintings galleries and whorehouses of Paris, Berlin, and beyond.
Written from a vantage element either excessive and inevitably slender, Powell’s early novels however deal within the common subject matters that will turn into a considerable a part of his oeuvre: delight, greed, and what makes humans behave as they do. choked with eccentric characters and piercing insights, Powell’s paintings is achingly hilarious, human, and true.
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Unless compelling reasons to the contrary are put forward, an increase in population can never lead to unemployment. 44 THE ECONOMICS OF ILLUSION T H E ARGUMENT OF INCREASED PRODUCTIVITY Productivity, according to Livingston, is increasing at a rate of 2/2 per cent or even 3 per cent yearly. Where will the purchasing power and the demand come from to absorb the output increased by the higher productivity of labor, once the government no longer requires more than half of the national production?
DON'T PREDICT POSTWAR DEFLATION—PREVENT IT! 47 product. Thus, low profitability of capital could lead to underinvestment, but not necessarily to underemployment. The number of workmen an entrepreneur can employ—capital being ample and cheap—depends on what he has to pay for labor rather than for the use of capital. PROFITS CREATE PURCHASING POWER AND EMPLOYMENT Does all this mean that everything will be for the best in the postwar economy? Not at all. It simply means that there is nothing inherent in the capitalist system that inevitably creates unemployment.
For it is one question whether goods already fabricated are purchased at higher prices, and another whether new goods are fabricated. , wages and other costs not rising so fast as prices; a fact quite obvious though often forgotten in the wake of the spending enthusiasm of our time. 12 Sumner H. Slichter, "Labor after the War," in Harris, Postwar Economic Problems, New York, 1943, pp. 241-62: "Union wage policy will tend to keep the prospect for profits unfavorable, because unions will press for wage increases despite the continuation of price controls" (p.
Agents and patients by Anthony Powell