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accumulation amount better distribution boom business cycle capital capital accumulation cause chasing power Commerce Yearbook concerns Conference on Unemployment consumers consumption costs of production crease Cycles and Unemployment decline decrease depres distribution of income duction earnings Economics of Unemployment economy of high effective demand efficiency employers enterprises establishments excess profits factors of production fluctuations G. D. H. Cole George Soule high wage-rates high wages Ibid important increased wage-rates indus industrial depression industrial system investment J. A. Hobson labor large profits large purchasing power larger last depression less masses measure ment mitigating necessary needs nomic output over-expansion over-production over-supply peak period of prosperity perity ployment population present President's Conference pression prevailing problem quarter of 1920 R. H. Tawney rates result rise sion social stabilization of high standard of living sumers surplus tion Trade Board unem wage reduction wage-lag wants writes