What's Ahead for American Business

What's Ahead for American Business

What's Ahead for American Business

What's Ahead for American Business

Excerpt

WHAT LONG-RUN INFLUENCES are molding the economy of the United States and what will it be like a generation or more hence? As everyone knows, it has been changing rapidly -- it begins the second half of the new century as an economy very different from the one before the Great Depression and very different again from the one before the Second World War. New types of enterprises have grown up; methods of doing business have changed; the government plays a far greater role in the economy than it did fifty or even twenty years ago; trade unions, which were weak twenty years ago, have acquired great power; production has risen far faster than anyone would have dared hope in 1900; at the same time, the public debt and taxes have climbed to levels that would have terrified people in 1900 or 1929. Certainly the changes of the last fifty years have been far greater than people expected them to be, greater than the boldest forecaster would have dared to predict; furthermore, they show no signs of stopping. Consequently, one may be sure that the economy in thirty or fifty years will be very different from what it is today.

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