Word: divert
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Dates: during 1920-1920
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Real living costs can be reduced in but two ways, either through increasing production or through decreasing consumption. For consumers merely to divert their demand to new channels can have no effect on prices in general. So long as the public continues to spend all it makes, prices will stay up. Economizing through wearing overalls may slightly reduce the price of other clothes, but if the amount so saved is spent on other goods,--food, automobiles or diamond rings--the prices of those articles is bound to rise in response to the increased demand. Only through greater production and general...