| Show r 48 Recession Warned by r Economic Unit Unit WASHINGTON Dec Dee 2 23 UP UP- UP The he nation will be he flirting with With disastrous price e breaks eals an and re re- recession Ie cession before the end C of 1948 If It depends on increased production increased production alone to combat inflation This w warning signal was hoisted holsted Tuesday by President T uman council of ot economic economic- advisers advisers- which also rejected th the idea of of a longer work week In its In-its its second report to Mr Truman Truman Trumane Tru Tru- man mane the three three man man council li 11 listed ted these other ne needs ds for putting the economy on an even keel 1 1 Many industrial l' l p prices ces' ces must come come- down 2 High profits profit in many seg segments ments of or th the economy must be he profitability should be he established in others 3 Extremes in In wage wag scales should be corrected so that the extremes arc are brought closer to to to- gether 4 There must be a b better balance balance bal bal- balance ance of income am among ng sections groups and individuals No For Formula There is no formula for stable conditions and maximum production prod lc tion the council said But it told businessmen businessmen that real cal price competition competition com com- petition is' is the most mast important This means the Io lowest est price consi with a fair return in a stable economy c mom rather than the highest price that the traffic will wUl bear in an unstable economy it said The e report designed as background background back hack ground for Mr Truman's economic message to congress co on Jan 8 flatly opposed a 44 or 48 hour work week i It Itis ls eVident that we cannot all allwork allwork allwork work longer hours and thereby end present shortages it said Baid The council said did many marly industries industries indus indus- tries are held back by hy material shortages shortage others already are on onan onan onan an the clock has basis is and in to others a longer longcr work work week week would mean higher dividends rather than lower prices The council did not make any specific legislative recommendations and did not touch on the current current cur cur- rent debate over con con con- Instead its r report port was a highly academic discussion of how v to achieve maximum tion Cite Recommendations It recommended 1 That labor and industry get together to end restrictive restrictive practices tices on output 2 A better hetter distribution of goods goodsin in the lower and middle r snits ranks n 3 Economic arrangements arrangements' to provide new homes homes- annually annually an- an for 10 years 4 Government aid to rebuild towns and cities 5 Better education and he health and nutrition programs on a mass production scale |
