World Events

Abstract

United States economy is in the throes of a business recession which began in mid-1957 and is still continuing. Production has been declining for almost a year. A few happiness boys continue to wear huge badges on their lapels reading "Business is Good" and "Business is Wonderful." But most intelligent citizens are admitting that despite the boasted built-in economic stabilizers, the business cycle of boom-and-bust still functions. Even the President has ceased to be emotional about the matter and uses "recession" and "depression" without apologies.

This article can also be found at the Monthly Review website, where most recent articles are published in full.

Click here to purchase a PDF version of this article at the Monthly Review website.