Word: consumerized
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Most economists agree that sustained U. S. recovery depends on a real rise in demand for producer goods. Last week there were signs of such a rise. Meanwhile, General Motors' report on 1938 earnings brought home last year's ominous disparity between recovery in consumer and producer goods...
General Motors is the biggest unit in the great U. S. automobile industry (consumer goods). G. M. had a 1938 profit of $102,320,000 compared to a 1937 profit of $196,436,598. The last quarter of 1938 was the ninth best in G. M. history, contributing $63,932...
Most colorful opposition was maintained by Collis E. Redd, self-styled National Director of the Constitutional Crusaders of America. When he was before the committee, Redd said he represented the interests of the "consumer, the unemployed and the old-age pensioners."
Fortnight ago Chairman Alfred P. Sloan Jr. of General Motors Corp. told a Senate committee that "America's production plant is obsolete," that industry should be stimulated to substitute new machines for old, thus increase production and lower prices (TIME, Dec. 19). But outright expansion, rather than improvement, is...
Because Roosevelt Recovery, from both Depression I and Depression II, stimulated consumer industries (liquor, shoes, automobiles, etc.) but left heavy industry (steel, coal, railroads, etc.) in the lurch, no genuine U. S. prosperity has resulted. Last week one grandiose cure-all and one specific remedy were expounded before a Senate...