Business: Hindsight

"It was apparent at the end of 1936 . . . that forces were at work which threatened the equilibrium between wages and prices. Then, in the first quarter of 1937, came the development primarily responsible for destroying the existing balance and altering the whole course of events. I refer to the aggressive labor movement. . . ."

Thus last week spoke Dr. Harold Glenn Moulton, president of the Brookings Institution, before the annual meeting of the American Institute of Electrical Engineers in Manhattan. No mere plaint against labor was Dr. Moulton's argument. It...

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