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Facts Forum News, Vol. 4, No. 1, January 1955
File 019
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Facts Forum. Facts Forum News, Vol. 4, No. 1, January 1955 - File 019. 1955-01. University of Houston Libraries. University of Houston Digital Library. Web. November 25, 2020. https://digital.lib.uh.edu/collection/1352973/item/839/show/788.

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 019. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/1352973/item/839/show/788

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 019, 1955-01, Facts Forum News, 1955-1956, University of Houston Libraries, accessed November 25, 2020, https://digital.lib.uh.edu/collection/1352973/item/839/show/788.

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
Item Description
Title File 019
Transcript down in order to raise up the poor. The lop 5 per cent of the population, from the standpoint of income, used to get a highly disproportionate share of the total national income. In the period between the two world wars, this 5 per cent got about 28 per cent of the total national income, even after taxes. In recent years, they have been getting only 17 per cent of it after taxes. But most of the formerly rich are still very well ofr indeed. They are simply getting a smaller slice of a much bigger pie. FATTER SLICE OF BIGGER PIE Meanwhile, great numbers of the American people — factory workers, farmers, office workers, engineers, doc- :ourse, abolish! tors—are actually getting a much fatter 1 American if" slice of this bigger pie. They are the ling out a mi5" chief beneficiaries of today's social IMC ill li .11 till neelected »' reading of "j for Americ* ize undreamed* EXISTS gleet cil ; leserted family arecroppers, 1 all ically or ment isinessmen * ;red a bad run I here are many things worse than high taxes, as anyone who remembers the great depression will agree.2 (tin- massive social revolution, which lias spread prosperity to all, did not come about through redistributing a , , ^ I static amount of income. The redistribu- in the percental tio" has been dynamic —that is, it has W II Tod*! orea|ed infinitely more production while ■gt making an infinitely wider distribution. The fabulously rich are still fabulously rich. They are not getting less than they used to get, but the ratio is ill different because millions of others are bef°* "ow petting more. In other words, the graduated income who are really1 tax; the influence of the labor unions; neasures and " "le progressive economic and social I did not exis' legislation of the federal and state the outdated i •'! governments; and the new attitude of the great corporations themselves- have extent the cha*! helped to level off America's economic expense of th*| an^ social terrain, not by mashing the the status of ^ l>ealts down, but by bringing the valleys that the AmerK* not an averal ican in and plenty America- it is not accurj have been pu —Wide World ' rhomas 5WS, January, We have opened up for American industry a mu frontier the purchasing power of the formerly poor. Il is true that fewer Americans today work for themselves than formerly. Nearly half of all gainfully employed Americans are on the payroll of a corporation. If we leave farmers out of our reckoning, the proportion is even larger. Hut this doesn't mean what it would have meant a generation ago, for the very nature of the corporation itself is changing. During the old days the "capitalists" (the people who had the money to start '"'l"'i'ations and to provide them with the cash they needed for their opera- ions) controlled business. This is still rue today of most small, young businesses; but it is scarcely true of the mature, large corporations which set the pace for American business. The corporation manager of today FACTS FORUM NEWS, January, 1955 —Wide World Photos both farmers and labor are protected by what amounts to a floor under In the U.S. their earnings." has to be adept in dealing with the government, with labor, with his consumers, and with the power that lies behind all of these — public opinion. And he must be able to work with professional men, for business is becoming increasingly professionalized. COMPANIES NOW SOCIAL INSTITUTIONS The great corporation of today is a social institution which plays a much more comprehensive part in its employees' lives than it used to. Today's company in general thinks of itself not merely as a money-making enterprise— though it must of course make money— bill as a social institution, too. It would be inaccurate to say that the corporations of today are more virtuous than those of old. But we can say that the important ones have to act more virtuously than before—or at least to act with a fuller sense of the value of a good reputation with their employees, their stockholders, their consumers, their governmental investigators, and the general public. They have found that good business depends at least partly upon good deeds. Most of their executives—especially the younger ones—are acutely conscious that business lost the favor of the public during the 1930's largely because of the mulishness of the business moguls of that time. America's leading business executives behave quite differently today. They are deeply conscious of their public responsibility. The old Socialist idea was that corporations were soulless and government officials were public servants. Nowadays our corporations are showing that they, too, can act like public servants. They not only can — they must. It is obvious to all that this is an era of big government — of almost irresistibly expanding government. Even before Korea, the federal government was spending almost eighty times as much money, per year, as in 1900. It was actually spending, in a single year, an amount of money bigger than the whole national debt during the 1930's. Most of the colossal increase is of course due to military spending; but even the nonmilitary spending has been going up by leaps and bounds. Won't everything start collapsing when defense spending declines substantially? The answer is no. Our economy has been equipped with a number of stabilizer-. Some of these stabilizers are even now at work. Others will come into play as the economy shows signs of weaken- Page 17
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