Nation: Carter's New Economics

A smorgasbord of morsels instead of a bold strategy

"The steps I describe will begin a journey toward a more productive, more competitive and more prosperous American economy." With that promise, Jimmy Carter last week announced his $32.2 billion Economic Renewal Program. Immediately the policy provoked controversy. Asserted Congressman Clarence Brown, the Ohio Republican: "Too little, too late, too political." Complained Murray Weidenbaum, director of Washington University's Center for the Study of American Business: "It provides just the opposite of what the ailing economy needs."

In fact, despite the fanfare with which the...

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