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Must Build Up Payrolls by Roger Babson in 1932 Speech
Roger Babson argues that prosperity returns only with increased purchasing power and higher payrolls. He urges wage cuts to spread employment, noting 10 million unemployed and comparing family gains from multiple workers at lower pay to fewer workers at higher wages. He cites a 21 percent drop in living costs and sharp raw material price declines, insisting employment, not wage rates, is essential to revive demand and morale.
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Babson Park
Massachusetts
Kansas City
Tony
Publishers Financial Bureau