Abstract

Voodoo Prosperity: How Long Can It Last?
Balogh, T. | October 23, 1954 issue

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Hardly a day passes without some new and glowing projection of the United States' economic future being published. These projections take in all the main sectors of the vast U.S. economy. They look scientific, being often accompanied by complicated mathematical symbols. They show the relations between consumption, investment, income and savings. These projections play a vital psychological role. They are needed to give assurance to the managing elite and to justify them in dismissing setbacks in economic fortunes as temporary and in keeping their eyes firmly fixed on the long climb. The article discusses significance of these economic projections in context of the U.S. economy.

See Also:

ECONOMIC forecasting; UNITED States -- Economic conditions; CONSUMPTION (Economics); INCOME; INVESTMENTS; UNITED States
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