Business: Recovery on a Tightrope

TIME's economists see no boom, no bust ahead

More than two years after coming out of the deep 1973-75 recession, the nation's economic recovery has reached middle age—and is feeling all the crotchets of that stage of life. Its youthful bounce is now just a memory, and its progress is marked more by caution than boldness. Its future looks unexcitingly predictable at best, a little worrisome at worst: relatively modest gains in production, a very gradual reduction of high unemployment, continuation of a distressing but not immediately dangerous inflation rate.

A touch of...

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