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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 020. 1955-01. University of Houston Libraries. University of Houston Digital Library. Web. August 9, 2020. https://digital.lib.uh.edu/collection/1352973/item/839/show/789.

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 020. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/1352973/item/839/show/789

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 020, 1955-01, Facts Forum News, 1955-1956, University of Houston Libraries, accessed August 9, 2020, https://digital.lib.uh.edu/collection/1352973/item/839/show/789.

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 020
Transcript ing. They add up to an impressive array of safety devices never before employed to make a free economy enduringly strong. Already in operation is defense spending itself. Continuing at an estimated forty billion dollars a year, it is a colossal balancer. Of that sum, about half is spent on military hardware manufactured by heavy industry. That annual twenty million dollars' worth of orders inflates the grand total of expenditures by government until they account for 25 per cent of all the national expenditures, compared to 8 per cent in 1929. They also account for one out of every nine people employed, compared to one in sixteen in 1929. Thus a quarter of the American economy is practically insulated from the uncertainties and incentives of the market place. Second, there is a huge backlog of long-needed public works—up to two hundred billion dollars' worth of highways, schools, and public buildings whose construction was postponed by the war. Third, the U.S. is committed to encouraging foreign economic development and is sure to encourage the export of private U.S. capital, even by partly guaranteeing it. Since almost every dollar exported returns as an order for U.S. goods, America's foreign trade will increase in direct proportion to the foreign investment of American capital. Fourth, both farmers and labor are protected by what amounts to a floor under their earnings. These floors may be criticized for making costs rigid and for promoting inflation, but they also make for stability. WAGES MAINTAIN PRICES The demonstrated ability of organized labor to maintain and increase wage rales also keeps up purchasing power. Such stable high wages tend to maintain capital investment. If wages cannot fall much, business knows that prices will not fall much—and it therefore is less in* inclined to postpone spending hope of lower prices later. All of these stabilizers are effect! fortifying today's economy. In reset we have another set of safety devil for emergency use. The unlimited taxing power of 1 federal government; unemployment ' surance; and the Employment Act, 1946, which confers on the feuJJ government responsibility for "pronl ing maximum production" and "m*j tenance of employment opportunities' those able, willing, and seeking work." The very existence of the ' manifestly provides a kind of psjB logical stabilizer. 'Ihe government intervenes in ■ workings of ihe American economy many ways. It imposes all manner! regulations on business. It provtj many subsidies and guarantees. It sen as a court of last resort in labor • [niics. It determines the basic condfl of credit; and, in an emergency, it |>osi's controls upon prices and wf The die-hards, of course, say that government is on its way to swallow1 up everything, and that we are headed for socialism. We have swept way beyond so* ism; and in that sweep, we developed a dynamic economic sy* which makes us the envy and the ' ae lc of tin' modern world. # # ♦ * # That was one side of the questi0* Now for the opposite view: arf^ menU of some who do "not" tin" that America has successfully T.i sisted the twentieth century rln' toward socialism. B: menl in i Ame A me ernn powe AL Tl med was and men ..Id. socii natic R the i Deal com lo limi had v\as tern then nevt ican T "f I that T Roo New a co lb-- cut fed. I'C.W whe belc (1 wen I! —Wide World Photoi (Above) General view of the filing department at Britain's National Health Service. (Below) Clerks search crass-file index at U. S. Veterans Administration office. Page 18 1 N 1952, Norman Thomas, head "[ at I \niiiic.in Socialist party, did not Tn;1( for the presidency. moi lie admitted thai tin- Socialist P* "vino longer bad a platform. I>ccause. sloe Democratic and Republican parties! was adopted most of the major policie*' slar the old Socialist party. " 'f< The socialism which Norman Th° '"" offered forthrightly in political j \ paign year after year was overwn, ]u[j ingly rejected by voters, who kno^Jf;OI socialism is not something new andl,.0u gressive but is a reaction tie the a"! stai European philosophy of the "1 rights of government.3 But socialism was foisted upon ica by others who wen- shrewd rfl*j (;,„ to keep all the labels of freedom "of destroying the foundations of free"] jgj By adopting the income tax a^^uf ment in 1913, Americans unwi't1" removed the one constitutional h<J • tion which made socialism in the y*. States impossible—that is, the liiru'J on the taxing powers of the fe government.4 ,. FACTS FORUM NEWS, Januart\
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