One of the Administration's prime hopes was that a surge of consumer buying would ignite spending by businessmen and lead to prosperity in 1972. Yet, while shoppers have been spending fairly well for months, businessmen continue to keep a tight grip on their money. Since sustained economic growth is all but impossible without a burst of corporate spending for inventories, modernization and plant expansion, the timid attitude is impeding a stronger, faster recovery. Why are businessmen not spending moreĀand when will they open up?
Caution, confusion and cynicism are perfectly natural from the businessmen's viewpoint. They have too often been disappointed...