The Problem of Scarcity

Scarcity: A Critique of the American Economy, by Gus Tyler. New York: Quadrangle/The New York Times Book Co. 245 pp.

Is scarcity inevitable in post-OPEC America, where natural resources are in ever shorter supply and the terms of trade continue to deteriorate? It is not inevitable, Gus Tyler argues. High unemployment and reduced purchasing power are the results of our monopolistic economic system and our inegalitarian social structure. A program of radical, pragmatic social reform could inaugurate a new era of economic growth and enable America to begin solving its urban and energy problems, improve health care, and provide decent housing for all. Specifically, Tyler proposes renewed antitrust action, substantial tax refo...