Ruml Expects No Economic Lag or War With Russia
The United States will not face either economic troubles or a war with Russia until at least 1960, Beardsley Ruml, renowned economist and author of the "pay as you go" tax plan, told an overflow audience of almost 1000 last night.
Speaking at the Business School's Baker Library, Ruml, former chief of Harvard's General Education Board, said that our present economic policies, unlike those of the early '30s, contain no basic faults, except perhaps in the field of foreign commerce.
Although he said he was not attempting to forecast the future, Ruml expects America in 1960 to have a 39 hour average work week and a gross national product of $455 billion. This would present an increase of 60 percent over the corresponding figure for 1951.