The Economy: Problems of Abundance

Managing the nation's record prosperity may prove more troublesome for Washington than achieving it. The U.S. economy is thriving in a careful balance, with industry humming at close to capacity, shortages of skilled labor hampering (though not yet hobbling) key producers, price increases straining the bounds of stability. Last week, as fresh evidence showed that industry's plans to expand capacity have hardly been dented by the rising price of money, the signs also increased that the Administration may soon feel forced to use stronger medicine to fight the threat of inflation.

Temporary Overstrain. There was increasing speculation in Washington that...

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