DIY History | Transcribe | Nile Kinnick Collection | Nile Kinnick diary of service in the U.S. Naval Reserve Air Corps, January 1, 1943-June 1, 1943

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Nile Kinnick diary of service in the U.S. Naval Reserve Air Corps, January 1, 1943-June 1, 1943

Page 11

5/9 Sunday - Mother's Day.
Don't confuse resignation with patience.
Is class warfare nec. for social gain of common people? What is wrong with running a gov't on a fear & favor basis as the New Deal is prone to do - much needed social legislation has been passed hasn't it?
"From each according to his ability to each acc. to his work" - this may point a workable mean between the extremes of capitalism & communism. If we are to have an economy of abundance our productive forces must operate at capacity, but a man must always be made to earn what he receives, & those who produce more must receive more; also ingenuity & merit must be rewarded. A society which does not recognize this fundamental fact must surely disintegrate. Prices cannot be successfully controlled by legislative fiat, nor even by tyranny. It can only be done by competition of the buyer & seller in the free mkt. What gov't control may sometimes be nec. (in wartime, monopolistic inequities) can best be exercised by influence in the fundamental fields of demand & supply. For eg pchsing power can be curtailed through taxation & enforced savings. Supply can be regulated through rationing or subsidies. Monopolies can be broken by anti-trust suits or subjected to the competition of a gov't owned business in the same field.

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5/9 Sunday - Mother's Day. Don't confuse resignation with patience. Is class warfare nec. for social gain of common people? What is wrong with running a gov't on a fear & favor basis as the New Deal is prone to do - much needed social legislation has been passed hasn't it? "From each according to his ability to each acc. to his work" - this may point a workable mean between the extremes of capitalism & communism. If we are to have an economy of abundance our productive forces must operate at capacity, but a man must always be made to earn what he receives, & those who produce more must receive more; also ingenuity & merit must be rewarded. A society which does not recognize this fundamental fact must surely disintegrate. Prices cannot be successfully controlled by legislative fiat, nor even by tyranny. It can only be done by competition of the buyer & seller in the free mkt. What gov't control may sometimes be nec. (in wartime, monopolistic inequities) can best be exercised by influence in the fundamental fields of demand & supply. For eg pchsing power can be curtailed through taxation & enforced savings. Supply can be regulated through rationing or subsidies. Monopolies can be broken by anti-trust suits or subjected to the competition of a gov't owned business in the same field.