ERIC Number: ED025665
Record Type: RIE
Publication Date: 1968-Sep
Reference Count: 0
Economic Issues for the Future. Seminar on Manpower Policy and Program (Washington, D.C. February 15, 1968).
Okun, Arthur M.
A continuing major challenge for every industrial nation is the reconciling of high employment with price stability. The United States is entering its eighth year of economic expansion, due in part to the "stimulus" economic policies of the federal government. Employment levels, while not full, are aimed at 3.75 percent unemployment for 1968, so that we can conserve the possibilities for greater employment later and not jeopardize the opportunity for maintaining expansion. Accelerating inflation is not acceptable and policy makers will feel pressure to hold the economy down and to adopt the main objective of stopping inflation. Consumer's savings have kept our economy from going through the roof and the President has appealed for voluntary restraint with a three-pronged program including stabilizing the growth of demand, voluntary cooperation, and an attack on structural impediments to efficiency and cost reduction. The latter includes the establishment of a Cabinet Committee on Price Stability which will deal with inflationary bias built into our economy. If wage-price spiral disturbances can be lessened and continued manpower training can help smooth the path our program should work. The text of a question-answer session is included. (EM)
Publication Type: N/A
Education Level: N/A
Authoring Institution: Manpower Administration (DOL), Washington, DC.
Identifiers: Seminar on Manpower Policy and Program