The Economy: Holiday Glow

Nearly everyone has had a try at defining prosperity-from Cal Coolidge to Joseph Wood Krutch-but nothing defines it so well as the sights and sounds it produces. The surge of Christmas shoppers into the nation's stores last week assured retailers of the biggest selling season in history (up 6% over the 1963 Christmas season) to end a prosperous year. Other businessmen, some of whom have been fretting about a possible slowdown in 1965's second half, seemed affected by the holiday glow.

Predictions of even better business in 1965 came from the corporate chiefs of General Electric, Standard Oil (New Jersey),...

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