Abstract

IV: The $60 Billion Gap
Theobald, Robert | May 11, 1963 issue

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Many economists now argue that a higher rate of growth must be expected in the future because of the effects of increased expenditure on research and development. As evidence, they point to the extraordinary rise in agricultural production since the government introduced a major R&D program in the nineteen-thirties. Since then, dramatic increases in agricultural productivity, far larger than those attained in many manufacturing industries, have occurred. By now the agricultural labor force has decreased still further and most economists expect that agriculture will need no more than 5 percent of the total labor force within a brief period of years.

See Also:

AGRICULTURAL productivity; GROWTH rate; ECONOMISTS; MANUFACTURING industries; LABOR supply; AGRICULTURE -- Economic aspects
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