Veit, Lawrence A.
April 1977
Foreign Affairs;Apr1977, Vol. 55 Issue 3, p263
This article discusses signs of a slowdown in the economic recovery of major industrialized nations and the emergence of a new wave of political malaise in the late 1970s. The economic indicators can be read as part of a temporary loss of steam, but they may also augur a more fundamental downward shift in the potential growth rate of the by-and-large wealthy countries which comprise the Organization for Economic Cooperation and Development. The self-interest of governments, which rightly regard economic stagnation as a threat to their tenure, argues against recession scenarios.


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