Three University economists have refused to see either the end of the current inflationary period or the beginning of a crash as the result of the downward skid in stock and commodity markets, although they universally declare themselves "unable to make any definite predictions."
In an analysis of the current market situation over station WNAC last night, Seymour E. Harris '20, professor of Economics, urged no easing up on anti-inflation controls, asserting that trends toward continued inflation heavily outweigh those toward recession.
Inflation Balloon Swelling
The "tremendous demand" which still exists everywhere indicates that no serious downward spiral can begin at this time, Harris pointed out. "This demand will continue to exist, since we are still living in a semi-war economy," he said.
The contention that the inflationary period is not over was schoed even more loudly by Joseph A. Schumpeter, Baker Professor of Economics, reached last night by the CRIMSON. In a blast against the government he asserted, "There can be no end to inflation if the administration doesn't desire one. It wants high prices to continue in order to give the appearance of a boom at election time."
Gottfried Haberler, Warburg Professor of Economics, predicted that prices would probably be up again shortly, mainly because of the wheat drought and proposed lower taxes.
However, Wassily W. Leontief, professor of Economics, dissented from his colleagues, guessing that prices might stay down in view of the winter bumper crops.