Letters, Jun. 20, 1949

Back to Normal


Recently in TIME . . . and other publications I have seen increasing use of "recession," "slump" and "depression" regarding our present business situation. It seems to me that by using these terms we are talking ourselves into a good, all-out depression. This sort of talk scares customers . . . They tighten up their purse strings and wait for more price cuts. Businessmen begin to worry and slash payrolls needlessly. Pretty soon the scare builds up like a snowball going downhill.

Would it not be better to refer to our "recession" as a "return to normal" after the unusual...

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