Choose Your Own Word

Like everyone else, Congress' Joint Committee on the Economic Report wanted to know what was happening to the U.S. economy. Did rising unemployment and falling commodity prices mean a recession? Or would it be just a temporary letdown? Last week the committee called in economists, unionists, farm leaders and businessmen to find out. Among them was Economist A.D.H. Kaplan of the Brookings Institution, who had an economic explanation that everyone could understand.

The U.S., said he, was like a baby who had been taking the bottle too fast; it had to have a chance to burp. The big question was: "Is...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!