America's New Economy: The Basic Guide

As a monster Federal deficit haunts the U.S. economy, and business expansion under a new tax structure stirs fears of another inflation, economist Hamrin (Managing Growth in the Eighties) undertakes to sort things out. Exploring specific categorieseconomic growth, taxation, inflation, productivity, the deficit, wealth, poverty, etc.he poses a series of questions (``Have taxes really come down in the 1980s?'') accompanied by charts and tables; lists ``the facts'' (e.g., 40% of income-tax revenue goes to pay interest on the national debt); and cites experts' often-conflicting answers and interpretations. The study is a multidimensional grid of forces and theories, a minute analysis of our empirically evolved situation. Looking to the future, Hamrin describes current trends toward restructured entrepreneurial industry, with greater employee participation leading to improved product quality and a better trade picture, and postulates future electronic living standards still economically problematical and difficult to envision. (June)