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Satan’s Bushel - Garet Garrett

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Description

 							
  
  
  This dazzling work
in economic fiction is the third of Garet Garrett's novel trilogy, written and first published in 1924. Like the others,
Satan's Bushel is a splendid book, not just from the point of view of economics but also as a piece of literature.

 
  What is Satan's Bushel? It is the last bushel that the farmer puts on the market, the one that "breaks the
price" — that is, reduces it to the point that wheat farming is no longer profitable. The puzzle that afflicts
the wheat farmers is that they sell their goods when the price is low and have no goods to sell when the price is high.
Withholding goods from the market is one answer but why would any farmer do that?
  
  What is the answer to
this problem? Working from this premise, then, as implausible as it may sound, but the central figure in this book is
the price of wheat. It is the main source of drama. The settings are the wheat pit at the Chicago exchange (circa 1915)
and the Kansas wheat fields. Linking those two radically different universes is the mission of this book.
  
 
The action further explores the meaning, morality, and utility of wheat speculation. The plot is centered at the turn of
the 20th century, a critical period when the agricultural economy was completely giving way to the fully industrialized
one, and farmers were panicked about the alleged problem of falling prices. The allegory might equally apply to the
computer industry today, so there is nothing lost in the passage of time.
  
  It tells the story of one man's
discovery of a brilliant speculator and his relationship with an old and legendary farmer/mystic and his daughter. The
mystic embodies both the highest wisdom and the greatest economic fallacies of the day. The question that must be
confronted is how to make farms profitable in times of falling prices, and the novel shows that speculation, even with
all its human foibles, makes a contribution to stabilizing the market.
  
  
  About the author:
 
Garet Garrett (February 19, 1878 – November 6, 1954), born Edward Peter Garrett, was an American journalist and
author, who is noted for his opposition to the New Deal and U.S. involvement in the Second World War.
  
  In
1922, he became the principal writer on economic issues for the Saturday Evening Post, a position he held until 1942.
From 1944 to 1950 he edited American Affairs, the magazine of The Conference Board. In his career, Garrett was a
confidant of Bernard Baruch and Herbert Hoover.
  
  Garett was called a conservative in his obituary, and,
after his death, his book The People's Pottage was adopted as one of the "twelve candles" of the John Birch Society. He
is now sometimes called a member of the Old Right, and is seen as a libertarian or classical liberal.
  
  
  Buy:
  http://www.amazon.com/dp/B000XG6TGK/
  
  
  
   						

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