Not so much a guide as some bullish prognostications--designed to encourage (selective) investment. Krefetz, a sometime Jeremiah (The Dying Dollar, 1970), here reviews virtually all the negative factors that could prevent economic recovery and, with varying justification, writes them off. The domestic labor force, he contends, will become increasingly efficient as 1970s entrants (baby boomers, working wives) gain occupational skills. With fewer job-seekers, management may put more money into labor-saving equipment--encouraged also by incentives in the new tax law. Figuring in the so-called underground economy, productivity and GNP gains have been understated in recent years, while unemployment has been exaggerated. As regards inflation, US experience has merely duplicated that of the other industrial democracies, and there's been real growth in disposable income. The dollar is stronger (a boon to dollar-denominated investments) and corporate America seems to be shifting its focus back from short-term gain to longer-range payoffs. For the investor duly reassured, Krefetz provides further encouragement in the form of a survey of five technologically-innovative industrial groups: genetic engineering, agribusiness, ""robotics,"" energy (solar power, syn fuels, et al.), and telecommunications. Included in each section is a rundown on companies working in advanced areas. Krefetz, however, specifically disclaims any intention to make investment recommendations--and he does not totally ignore prospective negative factors. All may not work out as well as he anticipates (see Magaziner, below), but the tips are pertinent for any upturn in sight.