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economic thinker. Leo Wolman, who is also a good economic thinker, had about the same view of him, but Wolman is a kind of a politician as well as an economist so he saw a great advantage in Henderson. He saw that Henderson had some of this can-do in him, some of this action in him, that made him useful in spite of what he thought were grave defects in his economic knowledge. I remember that Wolman once said to me, “He never could get a teaching job because he isn't a good enough economist to get recommended for any major university.”

However, when he takes hold of a particular problem, he gives an honest analysis of it. That's the way he got into the government.

General Johnson, with his very active mind, paid attention to all kinds of things that were not strictly administrative obligations of the administrator of the NRA. He had obviously a considerable amount of theory back of what he thought about the NRA. As I think I said before, I later came to believe that this theory was based upon what he had read or heard about the corporate state of Mussolini. He was not a profound student and he had never been there