Show Looking Ahead Hy lIy GEORGE S. S BENSON President Harding Harding College Searcy Arkansas J HIPS DIPS ANn AND PEAKS Practical economists economist view the business outlook in terms of peaks and md valleys They have come to accept the ups and downs of the charts as interpretation of the myriad factors indicative of trends that may take place in our chang chang- changing changing i ing dynamic economy But the query is put How can CIn we avoid depressions Must we take these periodic sets back for granted Is there not danger langer for America in depressions i These questions arc sometimes honestly asked by critics critic of what they call boon and burst capital ism Yes there is danger in de de- de pi They're full of dynamite We might m wish to avoid the effects of every kind of business recession but bul to say that we desire desil to give up tip freedom of individual opportunity ity for a regimentation so thorough that hat we can avoid depressions would be to 10 swap temporary set set- setback back for permanent disaster LEVEL ROAD I Americas America's economy is a chang lag ins economy It is dynamic And I Its Is direction always has been up wards toward the mountain peaks of a higher and higher standard of living iving for fOI all her citizens it lL Is just possible that we ye could stay in lie Ilic valley finding a level road would be bo smooth and easy Some folks mistakenly call this security But Jut if we would have the mountain peaks caks of higher her and higher stand stand- standards ards of living then we must be prepared for the brief plateaus or even en the dips clips of readjustment for ho tho climb ahead This need be no lie bitter lieu ion Tho The price of no depression would mean accepting a static econ only my We can have no progress along long with no depression A static America however would not lot be a progressive inventive virile irile America There are aie free free- donis doms oms which thrive in the dynamic economy conomy and an not the least of them m is s freedom of opportunity PRICES TOO HIGH II In tho continuous depression of the he Orient life moves along always the he same measured in centuries Living improves slowly there if at nt all 11 In Soviet Russia every citizen citizens is s guaranteed a time full job but at ot wages oges that are arc approximately one one- filth fifth of our own wages State Stale so so- desires to become your pro pro- teeter ector You may have full and con con- if protection if you care caro to turn urn over oyer to the state the tho job of deciding how many litany jobs there will be ic what will bo be produced violl 1011 t tAke ke th t cj bs and at a what wages w s' s ge gc Jut But know the price of o U 11 yr is too high 1 I Almost within our own genera genera- iera- iera lion ion the tho working man muon lias has ha had haq 9 his s cut nearly one es of the undiscovered com com- man nian n-nian have tripled in many in in- Secondary school enroll enroll- enrollments ments have Increased ten times and college education is available to everyone The physical comforts and the luxury goods consumed by Americas America's man common is the envy of the whole world All this lisa has taken place despite depressions UPWARD AIm STILL This is not to say that America should accept serious erious business ro- ro cessions without making any effort to cushion their effect A wealth of experience from the uncertain Thirties should enable Congress to meet future emer ends with more success We shall be able to avoid the mistake of blaming overproduction tion for we now know that to ad ad- admit admit admit mit overproduction is to admit that we can offer a higher standard of living than our people can We shall know too how to use pub pub- pubic public ic lic lie works to better advantage in I cushioning future recessions America can keep going ahead on the climb upward toward flights bights now no now undreamed of if we rededicate ourselves to honest ef ef- efort fort ort in understanding understandings and using the lie system that has brought us so much nuch the laurels that belong elong already to the American way we may scale heights that yet have lave never been surveyed Let us not just take depressions for grant grant- granted ed rd lets take them in stride |