The U.S. economy seems headed for its most expansive era yet in the 1970s. That was the message of a study presented last week by Martin Gainsbrugh, chief economist of the National Industrial Conference Board, a private center for business research. Two years in preparation by a dozen of the board's staff economists, the study projects remarkable advances in family income, now averaging $9,300. By the end of the next decade, the typical American household will earn almost $14,000 in terms of today's prices and enjoy a 40% increase in the real standard of living. At...
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