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Facts Forum News, Vol. 4, No. 1, January 1955
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Facts Forum. Facts Forum News, Vol. 4, No. 1, January 1955 - File 018. 1955-01. University of Houston Libraries. University of Houston Digital Library. Web. January 20, 2020. https://digital.lib.uh.edu/collection/1352973/item/839/show/787.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum. (1955-01). Facts Forum News, Vol. 4, No. 1, January 1955 - File 018. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/1352973/item/839/show/787

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum, Facts Forum News, Vol. 4, No. 1, January 1955 - File 018, 1955-01, Facts Forum News, 1955-1956, University of Houston Libraries, accessed January 20, 2020, https://digital.lib.uh.edu/collection/1352973/item/839/show/787.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Facts Forum News, Vol. 4, No. 1, January 1955
Series Title Facts Forum News
Creator
  • Facts Forum
Contributor
  • Evans, Medford
Publisher Facts Forum
Date January 1955
Language eng
Subject
  • Anti-communist movements
  • Conservatism
  • Politics and government
  • Hunt, H. L.
Place
  • Dallas, Texas
Genre
  • journals (periodicals)
Type
  • Text
Identifier AP2.F146 v. 4 1955; OCLC: 1352973
Collection
  • University of Houston Libraries
  • Facts Forum News
Rights No Copyright - United States: This item is in the public domain in the United States and may be used freely in the United States. The item may not be in the public domain under the copyright laws of other countries.
Item Description
Title File 018
Transcript Are governmental stabilizers and safety devices fortifying today's economy? Or is the United States going the way of France and England? Dan Smoot discusses the pros and cons of SOCIALISM IN AMERICA "Has America successfully resisted the world-wide drift toward socialism?" Let's look at the question from two opposite points of view, taking first the arguments of some who would answer the question "Yes."* —Wide World Photos Presidents Eisenhower, Roosevelt and Truman i»MERICA has resisted the world-wide drift toward socialism — not by a narrow, fearful, reactionary, dog-in-the- manger holding onto the status quo; but by meeting the challenge of Socialist revolutionary forces with our own more dynamic and progressive twentieth century revolution. We gave up the old nineteenth century notions of capitalism when they proved themselves decadent. But we did not drift into the bureaucratic sterility of socialism. We have developed in America a new- kind of economic system for which there is no satisfactory name. It has been called the "mixed economy." But the label is inadequate, because it does not describe the ingredients which went into the mixture. In a narrow, technical sense, the fVmerican economic system which is flourishing today is a biend of socialism and old-fashioned capitalism. But the blend i> infinitely superior to either socialism or decadent dog-eat-dog capitalism.1 U.S. ECONOMY CHANGED The American economy has undergone a tremendous revolution in the past twenty years, but it has not been a Socialist revolution. Hidebound conservatives and economic reactionaries — who are always uncomfortable in times of movement and change — look upon our progress with dread and fear. Page 16 But the calamity-howling and viewing- with-alarm could not stop the miraculous transformation of a sick American economy into the wonder of modern times. The present American economic system is a kind of democratized capitalism, supplemented and directed by governmental action.1 A chief feature of our new system is the constant redistribution of national income from the pockets of the too- prosperous into the pockets of the too- poor. Just as an ably managed business concern plows part of its earnings back into the company for improvements and expansion, so our economic system plows back part of its earnings into making consumers out of people who formerly couldn't afford to buy much. —Wide World Photo Clerks label and process income tax forms and instruction books at an internal revenue branch office. This is not the result of long-range planning by any one segment of society, or of any one individual. It has evolved from a long series of reforms, innovations, and inventions, and also from the military emergency of the past twelve years. It has come about through the operations of the graduated income tax — which is indeed a potent redistributor of wealth. It has come about through the passage of minimum wage laws and other legislation to protect labor; through government subsidies and guarantees to people who need help; through the upward pressure on wages exerted by labor unions; through the fact that our need for war materials has given us ten years of full employment; through an enormous gain in the efficiency of American industry and business.1 The result has been an extraordinary spreading of the growing national wealth. And this spreading of - wealth has provided, for Americ* business, markets of a size undreamed* even in the 1920's. POVERTY STILL EXISTS We have not, of course, abolisl poverty. There are still American f' ilies living in slums, eking out a nvisjl able existence on incomes that are W too small. There are still neglected * people and widows, deserted family migrant workers, sharecroppers, effective workers, physically or menti disabled people, businessmen ' farmers who have suffered a bad run' luck. But the percentage of these noV ' unbelievably lower than the percental of them before World War II. Tod»l we can actually assert that the Amerie* in economic distress is not an avet*l American. The average American in 1954 • joyed a prosperity and plenty t* dreamed of—even in America—be" World War II. And for all those who are really ' need we have relief measures and " services which simply did not exisM generation ago under the outdated call iali>lic system. To be sure, to some extent the ch»J has come about at the expense of th<* who used to enjoy the status of ■J fabulously rich. But it is not accufj to say that the rich have been pul'' dow: top the a hi total ln'lw cent natie rece 17 I of tl off smal M Ami farn tOrS- slice' cllic revo T high the 0 has com slati lion crea malt T Ions thai diff, now i, tax: the legi gOVc the heli and pea lip. V indi po« —Wide World ' Norman Thomas FACTS FORUM NEWS, January tl FA
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