Word: billions
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Dates: during 1950-1959
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...Test of Vigor. More and more research is needed. Although industry spent $10 billion on research this year, it will have to spend still more. "The company that stints on research these days," says General Telephone & Electronics President Don Mitchell, "will give some short-term gain to its profit-and-loss statement, but it won't have any profit statement to worry about by 1970." Mitchell knows from experience that research pays off at a prodigious rate. "That means that $100 spent on research will bring back anywhere from $2,500 to $5,000 over a 25-year period...
...since World War II. France's booming aluminum industry boasts that its technology is second to none. Italy's Pirelli tire and rubber company claims the same. Led by Germany and France, the industrial nations of continental Europe have boosted their gross national product 100% (to $212 billion) in ten years, turn out 250 million tons of coal (17% of the world total), some 65 million tons of steel (20% of the total), 1,500,000 tons of copper, zinc and lead (16% of world total). Across the English Channel, Britain's economy this year alone grew...
...says that he is just a bit dubious at finding himself in step with the herd. The crystal-ball gazers predict that the national product will jump to a $500 billion rate in the first quarter, race on to $525 billion or better before leveling off at $510 billion and the first half-trillion economy the world has ever known...
...Steelmen forecast a total of 125 million tons of steel next year, up nearly 35 million tons. Borg-Warner's Norge Division President Judson Sayre expects big increases in the appliance industry-8% for clothes dryers, 10% for refrigerators. Moreover, plant and equipment expenditures will rise from $34 billion in 1959 to a rate of $40 billion in the fourth quarter of 1960. With all the booming good business, the Government hopes for good news on the budget debt: a surplus of $2 billion in the fiscal year starting July...
...population growth for the U.S. that will push the number of Americans past the 200 million mark by 1970, a population so much in need of homes, clothes, autos and all the other things that Americans expect as their birthright that the U.S. will be ripe for a $700 billion economy in ten years...