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of a factory, out of the industry, and so forth. The working man chooses another kind of life. He doesn't sit up worrying about the economy of the industry. He gets his wages and goes home and has a good time, keeping his standard of living up and not being much interested in the development of the industry.

That I believe. I'm saying what I think now. I know that's right. One may think that it ought to be another way, but I tell you that God didn't make men that way. If a man had enough of an education to understand the economics of the industry, he'd be the boss. He wouldn't be a worker. Many of them choose to be workers because they don't want to bother their heads to be a scholar, study the economy and do all that worrying. I know this is true, but you couldn't make Hugh Johnson really believe that.

Hugh Johnson conceived of them all actually as making a theoretical contribution, but taking their place and general orders from the person whom he called “the government” - that is, from whoever was the leader of this economic area. I think it's important to recall all this with regard to Johnson and his place in the NRA, and the probable influence that the NRA had through him on the thinking of some elements in the trade union movement.

Since I've been asked, I'd say that Johnson never