AbstractPerhaps the most harassing among the many contradictions that bedevil mankind is the tendency of spending to exceed income. We see it in personal affairs. It prevails in public finance. During the first three months of 1959 we have watched and listened to Mayor Wagner, of the richest city in the world, Governor Rockefeller, of the richest state in North America, and President Eisenhower, of the richest nation on earth, demanding higher taxes and more borrowing to meet the insatiable demands of public spending.
This article can also be found at the Monthly Review website, where most recent articles are published in full.
Click here to purchase a PDF version of this article at the Monthly Review website.
Please see here for reprint requests.