Planning for Growth-A Critical Comment

Cloos, George W.
December 1960
New Republic;12/19/60, Vol. 143 Issue 26, p13
Focuses on economic conditions of the U.S. as described in articles from James Tobin and Senator Paul H. Douglas, published in the July 25 and September 26 issue. Role of gross national product (GNP) in giving indispensable framework for analysis of economic developments; Nature of the data used in calculating growth trends; Utilization of much of the GNP in terms of the wages and salaries paid to government employees; Approach to the adequacy of the current level of production suggested by Tobin, which does not depend upon the calculated growth rate; Belief of conservatives that any deliberate attempt to raise the level of economic activity will be self-defeating; Requirement of additional resources be devoted to public needs; Information on the defense expenditures of the nation; Reasons for Increase in capital investment; Methods suggested to increase private investments; Proposal of Tobin to raising taxes more than expenditures.


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