THE IDEAS OF STUART CHASE ON WASTE AND INEFFICIENCY

This paper discusses Stuart Chase and his thoughts on social accounting and the economics of waste and inefficiency. An evolutionary socialist, economist, and CPA, Chase saw waste as the major socioeconomic problem of our time, and argued that industry, the government, and the public could do much to overcome this problem. He suggested an optimal balance between laissez-faire and governmental regulation as a remedy for the inefficiencies of our economic system.