Will Reagan's Plan Work?

TIME'S Board of Economists reviews the new Administration's program

Is the U.S. "threatened with an economic calamity of tremendous proportions," as Ronald Reagan told the U.S. two weeks ago? The TIME Board of Economists met last week to review the state of American business and to try to answer that question. The group's consensus: though President Reagan's rhetoric may have been a bit overblown, the economy is indeed in serious trouble. Declining productivity, recalcitrant inflation and the explosion of Government spending have so shackled U.S. business that growth will be sluggish well into the...