Word: ratajczak
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Dates: during 1970-1979
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What serious retrenching has occurred so far has been highly selective. Says Georgia State University Economist Donald Ratajczak, speaking about the status of retail sales: "The discount and the high quality lines are good; the in-between is dead. Top and bottom are where the action is." Translation: in marked contrast with their behavior during past economic slowdowns, people are not closing their wallets entirely but are scrambling for bargains, on the one hand, and, on the other, scooping up top quality, long-lasting goods at any price...
...gains, the South still has a long way to go to catch up with the rest of the nation (see charts). Says Donald Ratajczak, director of Georgia State University's Economic Forecasting Project: "We are probably experiencing now what the great metropolitan areas of the North did in the 1920s. But the important thing is that we now have enough industrial resources to generate our own growth instead of needing outside stimulus to get going...
...region is now well on the way to full recovery. Says Economist Ratajczak: "Next year half of the states in the South will have exceeded the 1974 peak in payroll employment from manufacturing, whereas most of the other states in the U.S. will still be behind." Despite worry that the sweeping development of the region could eventually hurt the environment and the South's unhurried style of living, the mood is optimistic. The feeling is that whatever problems the future holds, the region is finally moving out of the shadow of the North and into a bright...