STATE PLANNING

New Zealand Herald, Volume LXXV, Issue 23097, 23 July 1938, Page 24

STATE PLANNING

ECONOMIC SOCIETY ADDRESS Economic planning in capitalist State* would result sooner or later in either Fascist dictatorship or Socialism, said Mr. S. Ecatham, in an address on '"Economic Planning I'nder ('api talij.m," delivered to the Auckland branch of the Economic Society of Australia mid New Zi'jiliind. In the operation ol such a system of planning hy a government, of a conservative nature, the chief difficulty would he to keep the working classes quiet while it was restricting production to conserve profits, the speaker said. A downward spiral would he created in which restriction would cause more restriction. Under a government with a bias toward the working classes economic planning would result in an upward spiral of increasing wages, higher prices, more planning and more restriction. I'ltimately a crisis would arrive under either type of government, when a Fascist dictator would take control or the proletariat would assume the mastery and establish a lull Socialist regime.