Part: 123456789         Session: 1         Page na123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197198199200201202203204205206207208209210211212213214215216217218219220221222223224225226227228229230231232233234235236237238239240241242243244245246247248249250251252253254255256257258259260261262263264265266267268269270271272273274275276277278279280281282283284285286287288289290291292293294295296297298299300301302303304305306307308309310311312313314315316317318319320321322323324325326327328329330331332333334335336337338339340341342343344345346347348349350351352353354355356357358359360361362363364365366367368369370371372373374375376377378379380381382383384385386387388389390391392393394395396397398399400401402403404405406407408409410411412413414415416417418419420421422423424425426427428429430431432433434435436437438439440441442443444445446447448449450451452453454455456457458459460461462463464465466467468469470471472473474475476477478479480481482483484485486487488489490491492493494495496497498499500501502503504505506507508509510511512513514515516517518519520521522523524525526527528529530531532533534535536537538539540541542543544545546547548549550551552553554555556557558559560561562563564565566567568569570571572573574575576577578579580581582583584585586587588589590591592593594595596597598599600601602603604605606607608609610611612613614615616617618619620621622623624625626627628629630631632633634635636637638639640641642643644645646647648649650651652653654 of 654

some point or other and a little chat. I said to Keynes, “Well, did you have a good talk with the President?”

“Very good indeed. He was very courteous. He was very pleasant. I'm not sure that he was interested in what I had to say.”

I said, “Oh, really. I think he probably was.”

“Well,” he said, “I had really thought he was more literate economically speaking.”

He just was illiterate in the field of economics. That's the way he impressed a man like Keynes, who had started in the middle assuming that he knew something.

I knew that he didn't know much about economics when he was in Albany. I don't presume to know anything about economics. I'm no judge of economics. I've read a good deal on the subject. Economics is a brand new subject as a professional subject. Economics was something to be thought about speculatively in universities. It was not anything that was a field in which you had to have judgment and apply it to operations. It's a new subject to everybody. It's not very interesting unless you have to deal with something where you need economic analysis to help you understand it. It was in that way that I knew something about economics. Fiscal economics would be a complete mystery to me. Economics, as it helps you to understand the manufacturing