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Gary - An Interview","","“Cycles Versus Common Sense” presents an interview text by Elbert H. Gary, arguing that business downturns are not inevitable economic laws but outcomes rooted in lack of confidence. The piece contrasts older assumptions about cycles with a newer conviction that trust and mutual faith can stabilize demand. It highlights practical belief-driven mechanisms, including improved distribution and commercial practices, and uses the one-price system as an example of how confidence reduces price instability and supports fair transactions.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/cycles-versus-common-sense-by-elbert-h-gary-an-interview/322450/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/cycles-versus-common-sense-by-elbert-h-gary-an-interview/322450.png","ImageObject",300,407,{"name":92,"@type":93},"Eliana","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-02","2026-09-21",true,{"@type":102,"interactionType":103,"userInteractionCount":29},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does Elbert H. Gary argue about the inevitability of business cycles?","Question",{"text":112,"@type":113},"He argues that cycles are not an unalterable law of economies. The text presents the view that downturns can be understood and reduced by addressing underlying causes rather than treating symptoms.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why does the article say lack of confidence is central to the business cycle?",{"text":117,"@type":113},"It states that lack of confidence underlies the business cycle, just as it underpins many other commercial evils. Suspicion and uncertainty are presented as drivers of instability, while confidence supports stability.",{"name":119,"@type":110,"acceptedAnswer":120},"How does the one-price system relate to the author’s message?",{"text":121,"@type":113},"The one-price system is used as an example of mutual confidence between buyer and seller. It is described as shifting salesmanship away from caveat emptor and persistent haggling toward trust that helps stabilize prices.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},322450,1790815414,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":29,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":36,"preview_page_count":4},4398048949847,"https://ap-avatar.wpscdn.com/avatar/400002536579ef2da7f?_k=1778318612642679267","97-84075-2Gary,Elbert Henry  \nCycles versus commonsense  \n[Philadelphia]C1926  \n# COLUMBIA UNIVERSITY LIBRARIESPRESERVATION DIVISIONBIBLIOGRAPHIC MICROFORM TARGET\n\n## ORIGINAL MATERIAL AS FILMED-EXISTING BIBLIOGRAPHIC RECORD\n\n308  \nZ  \nBox 240  \nGary,Elbert Henry,1846-1927.  \nCycles versus common sense,by Elbert H.  \nGary…An interview with Wiliiam A.McGarry,  \nDecember 18th.1926….Philadelphias Curtis,  \nc1926.  \n20专cm.  \n16 p.  \n\"Reprinted by special permission from theSaturday evening post.\"  \nC  \n”  \n Reproductions may not be made without permision trom Columbia UniversityLbraries.                  \n## RESTRICTIONS ON USE:\n\n# TECHNICAL MICROFORM DATA\n\nFILM SIZE:          35mnREDUCTION RATIO:            1/:1  \nIB   \nIMAGE PLACEMENT:IA  \nIIB  \nDATE FILMED:                  5-1-91INITIALS:         uP  \nTBACKING\\#:                                                                                                      23807  \nFILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA.  \n\n| HSNHS NOWWOD  \u003Cbr>SnSTA STTDAD  \u003Cbr>oh2×0g  \u003Cbr>Z  \u003Cbr>80   |\n| --- |\n\n# CYCLES VERSUSCOMMON SENSE\n\nBy ELBERT H.GARYCHAIRMAN,UNITED STATES STEEL CORPORATIONDECEMBER 18th,1926Reprinred by special permision from The Saturday Erening PostCopyrighr 1926 by The Curla Publuhing Company  \nAN INTERVIEW WITH WILLIAM A.McGARRY  \n/管..0.》  \n# CYCLES VERSUS COMMON SENSE\n\nBy ELBERT H.GARYCHAIRMAN,UNTTED STATES STEEL CORPORATION  \nAN INTERVIEW WITH WILLIAM A.McGARRY  \nDECEMBER 18th,1926  \nReprinted by apecialpermission from The Saturday Evening PostCopyright 1926by The Curtt Publishing Company  \nNOT very many years ago most men believed thefluctuations of business were as much beyond theircontrol as the snows of winter and the rains ofspring.A merchant or manufacturer might profit byanticipating a period of growth,and avoid or minimizelosses by preparing for the falling off,but the phe-nomenon known as the cycle was accepted as an unalter-able law of economies.When a partieularly enterprisingeompany succeeded in maintaining or inereasing itsvolume of business during a depression,it was said bysome that this was accomplished at the expense of com-petitors,and by others,that it was merely the exceptionwhich proved the rule.Even when these instances weremultiplied,our people clung for a long time to the ideathat the cycle was an integral part of the structure ofbusiness.  \nThe gradually developing conviction that this is nottrue,in my opinion,is the most encouraging step we havetaken toward the possible eventual elimination of nationalperiods of depression.It is far more important thanany of the efforts made or plans proposed to controleither the upward or downward trend of the cyele,although many of these are imperative now and in allprobability must be continued in use for some years tocome.The methods of treating the effects of a malady,however,undergo conatant change as the physician learnsmore and more about its cause,and I believe the recordsof the past few years will show that a similar process iswell under way in business as a consequence of the admis-sion that cycles are not necessary.  \nLack of confidence is now recognized as the basis ofthe business eycle,just as it furnished the foundation fornearly every other commercial evil we have ever known.Looking backward over the yeare,we can see that thecure for practices,beliefs and superatitions tending tolimit the expansion of business has always been found-sometimes where it was least expected-in a developmentof mutual trustAgain and again we have seen thatefforts to control symptoms and effects have only resultedin perpetuating them.The idea of limiting production toavoid depressions is a case in point.It has been dis-earded in favor of increased distribution,the first essen-tial to which is a stronger and more widespread faith inthe future of the country.As this develops,the need for  \nlimiting production disappears,and so it has always been.  \nHistory,therefore,may be repeating itself althoughwe challenge the idea th","cbCaiv0AmcjNgtvn","https://ap.wps.com/l/cbCaiv0AmcjNgtvn","pdf",558005,16,"English","# Cycles and the idea of inevitability\n## Confidence as the foundation of the business cycle\n## Learning from history to eliminate depressions\n## Fair dealing and the one-price system","[{\"question\":\"What does Elbert H. Gary argue about the inevitability of business cycles?\",\"answer\":\"He argues that cycles are not an unalterable law of economies. The text presents the view that downturns can be understood and reduced by addressing underlying causes rather than treating symptoms.\"},{\"question\":\"Why does the article say lack of confidence is central to the business cycle?\",\"answer\":\"It states that lack of confidence underlies the business cycle, just as it underpins many other commercial evils. Suspicion and uncertainty are presented as drivers of instability, while confidence supports stability.\"},{\"question\":\"How does the one-price system relate to the author’s message?\",\"answer\":\"The one-price system is used as an example of mutual confidence between buyer and seller. It is described as shifting salesmanship away from caveat emptor and persistent haggling toward trust that helps stabilize prices.\"}]","CYCLES VERSUS COMMON SENSE - By Elbert H. Gary - An Interview | PDF",1789962757]