The Abuse of Capital April 5, 1931
“Failure use a surplus of capital correctly in business expansion is one of the causes of the recent depression. Idle capital means idle men and women. Criticism aimed at the wealthy because they spend too much for luxuries misses the point, since the truly wealthy are unable to spend more than a small percentage of their vast incomes.
“The middle classes have tied up too much money by overcautious saving. Capital investment should be controlled so that money can be circulated properly.
“Seven million unemployed constitute a greater menace than Germany in the World War; what America needs most is a 10-year plan that will provide for a minimum wage of $5000 annually by 1942.”