State of Business: The Looming Boom

"I hate the word 'boom,' " said U.C.L.A. Economist Robert Williams last week. But for all his semantic fastidiousness, Dr. Williams—like many another forecaster—could find no better term to describe what the U.S. economy seems headed for. The real optimists had an even more hyperbolic word to describe what is coming: Superboom. By next spring, they predict, Berlin-inspired defense orders will strain U.S. productive capacity, and by Christmas 1962, the gross national product will soar to nearly $600 billion.

Not all businessmen agree. To justify their caution, the doubting minority point to a...

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