Look Again

Everyone knew there would be a great U.S. postwar boom. It was taken for granted, just as it was taken, for granted that the boom would taper off—by mid-1950 at the very latest. But last week the tapering-off was hard to find. Instead, the news from the stock market, the auto companies, the homebuilders, and even from the analytical economists was optimistic (see below). The boom was not only big—it seemed to have something of a franchise on the future.

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