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COMMONS, John R.

Typed letter signed to businessman Edward Filene, on the foundation of the capitalist system and the responsibility of businessmen.

12 June 1922 Stock Code: 147802
£475.00
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Typed letter signed from John R. Commons, on his University of Wisconsin letterhead, to the American businessman and philanthropist Edward Albert Filene (1860-1937). Filene founded the eponymous department store and pioneered credit unions across the country.

Commons writes in response to a letter from Filene regarding an article he published: "I have read with the greatest interest your article from the New York World of May 21 on the relations between the employers and the workers. It seems to me admirable and I see no point at all where I would take exception".

Commons states the central thesis of his writings: "In all my work I am emphasizing that our capitalistic system depends on credit and not on capital, that the real productive element is the expectation of profits, and that labor cannot under any possibility expect to manage industry successfully. Therefore the responsibility rests upon the business men. They must meet this responsibility if they would not have social unrest and impossible schemes of reform foisted upon them".

Commons concludes that he would be glad to hear of Filene's investigations into unemployment insurance in England, and wishes him an enjoyable trip.

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Description

Single sheet, typed on recto only, 28 x 21.5 cm.

Condition

Creased as originally folded, note of receipt on top right corner, old green paper residue on top left corner. In very good condition overall.

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