THE AMERICAN ECONOMY TO 1975 by Clopper Jr. Alman


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The keynote here is consistency. Mr. Almon, of the economics department of the University of Maryland, has produced the first long-range forecasts to make full use of what is known of supply connections among the nation's industries. By dividing the whole economy into ninety industrial sections, he has been able to project consistent consumer rates, investments, imports, exports, employment and productivity levels, and the degree of technological change for each section. He has done this with a minimum of technical jargon and only a few mathematical equations. Proof of his predictions is a decade away. Meanwhile, hordes of conventional economists are probably going to denounce them as overambitious, flawed, or completely wild. But Mr. Almon feels ""this kind of economics is too important to leave to economists alone."" Therefore he has employed a style accessible to ""anyone concerned with our economy,"" and his intended audience includes not only investors and developers, but public agencies as well. particular trends--for instance downward ones in the defense sector and automobile manufacture--should also interest the politically or sociologically minded reader.

Pub Date: Dec. 7th, 1966
Publisher: Harper & Row