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Updated: June 26, 2025
The lip-homage given by orthodox economics to the field of consumption seems to be inspired merely by the feeling that disaster might overcome production if workers were starved or business men discouraged. . . . So, while official economic science tinkers at its transient institutions which flourish in one decade and pass out in the next, abnormal and behavioristic psychology, physiology, psychiatry, are building in their laboratories, by induction from human specimens of modern economic life, a standard of human values and an elucidation of behavior fundamentals which alone we must use in our legislative or personal modification of modern civilization.
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