The road to complete business recovery and faster economic growth for the United States is not the path of tax cuts and heavy stimulus to consumption. It is built instead upon a combination of expanded public and private investment resulting in a deepening of capital investment in new plants, technologies, and productive facilities that will increase this nation's future capacity to produce. That is the new economic frontier, this authority, one of the President's advisers, states. Will we be able to cross it successfully? Probably, he thinks, but outlines some of the challenges which must be met soon, if we are to hold our own against other countries whose economies surpass us in rates of growth.
- Copyright The Regents of the University of California 1961