of the United States, with corresponding derangements in
France, Britain, Germany and the other industrial countries; and
learning further that there is a tendency for such catastrophes to
become more, rather than less severe, begins to wonder whether the
difficulty is not very much more deep-seated than many public men would
have him believe. Even the most stalwart supporters of the present
order must agree that the system does not function smoothly. There are
many bumps, jars and hitches, and considerable friction.

Another evidence of economic chaos is furnished by the extent of
industrial waste. Studies in industrial efficiency have led recently to
the publication of a number of reports, the most ambitious of which,
"Waste in Industry," issued by the Committee on the Elimination of Waste
in Industry of the Federated Engineering Societies of the United States,
describes waste under four aspects:

1. Low production caused by faulty management of materials, plant,
equipment and men.

2. Interrupted production, caused by idle men, idle materials, idle
plant and idle equipment.

3. Restricted production, intentionally caused by owners, management
or labor.

4. Lost production, caused by ill health, physical defects and
industrial accidents. (Page 8.)

With these various kinds of waste in mind the committee made a survey of
some of the leading industries in the United States, and drew up a table
showing the percentage of waste found in each industry. The figures were
as follows:

Men's Clothing Manufacturing 63.78 per cent
Building Industry 53.00 " "
Printing 57.61 " "
Boot and Shoe Manufacturing 40.93 " "
Metal Trades 28.66 " "
Textile Manufacturing 49.20 " "

The bulk of the responsibility for this waste is placed on
"management,"--the lowest percentage (50 per cent) in Textile
Manufacturing, and the highest (81 per cent) in the Metal Trades. The
remainder of the responsibility is shared by labor, with a minimum of 9
per cent in the Metal Trades and a maximum of 28 per cent in Printing,
and by miscellaneous causes, with a minimum of 9 per cent in Men's
Clothing and Printing and a maximum of 40 per cent in Textile
Manufacturing. (Page 9.)

There are a number of angles from which this result may be viewed. Waste
may be looked upon merely as the index of industrial inef