Foundations, Professors and "Economic Education".

In this article the author focuses on some fundamental questions related to economic education. On of the fundamental questions discussed here is, whether an income derived from man-made equipment that cannot come into existence at all unless there is both labor and saving, is on no stronger an ethical and social utility basis than is an income one can receive just because others must pay him for his 'permission to work on and to live on the earth, in those locations made productive and desirable because of geological forces and community development, and for his permission to withdraw fuels and minerals from the earth's subsoil deposits. The author illustrates his point by referring to the case of New York. New York is situated on a great natural harbor. If there were none to use the harbor except a few pioneer farmers on Manhattan Island trading their surplus produce for the textiles and other goods of Europe, landing space for a very few boats or perhaps for a single one would be all that would be needed. Today there is needed in New York City a large population to meet the requirements of this great tributary country.