The United States will have a period of higher wages and production with little or no federal control and a near balance in supply and demand, Sumner H. Slichter, professor at the School of Public Administration, predicted Saturday.
Slichter and George F. Doriot, professor of Industrial Management, spoke in Detroit before a group of industrialists and businessmen at the midwest regional conference of the Harvard Business School Club.
Slichter said that because of the cold war, the economy of the U.S. is "more formidable than ever." He added that this country favors years of a cold war economy but that this does not mean that a rising standard of consumer manufacturing and buying has to be hampered.
Doriot said that people should be patient with the new Republican administration.
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