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...
To continue reading:
or
Log-In
