The (not too) rocky road for economic growth

The economic disruptions of the 1970s have created considerable uncertainty concerning the outlook for future long‐term economic growth in the United States. Many economists and businessmen contend that the problems are symptomatic of fundamental structural changes in the economy. In this view, the enduring problems of inflation, poor productivity, raw materials shortages, financial instability, and government interference in the private sector are expected to condemn the economy to permanently low growth rates and severe cyclical fluctuations.