Some causes and consequences of distributive waste

Abstract

The distinction between Effective Demand and Ineffective Demand is one of the commonplaces of Economics. An analogous distinction between Effective Supply and Ineffective Supply ought to be recognised. Ineffective Supply may be defined as that portion of a total supply which for one reason or other fails to be marketed at one or other of the various stages of distribution. The importance of this conception is very great with regard to the perishable and semi-perishable products of agriculture, and even with regard to such durable commodities as wheat, the "orderly marketing" of which involves an operation of credit, not always available so far as the farmer is concerned.