The Economy: Still Robust in the Third

Profit for everyone-this is what our profit system, our private enterprise system, our private risk system can and must accomplish.

-Frederick R. Kappel

As it speeds toward the end of the most prosperous year in history, the U.S. economy has gone far toward reaching that goal. After 44 months of heady expansion, in which corporate profits have soared about 50%, U.S. companies last week began releasing third-quarter earnings that guaranteed more shattered records-and then some. Profit figures in the third quarter rose 20% to pass $32 billion for the first time.

This...

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