The New Economy Vs. The Bubble Economy

For five years, at least, American business has been in the grip of an apocalyptic, holy-rolling exaltation over the unparalleled prosperity of the "new era" upon which we, or it, or somebody has entered. Discussions of economic conditions in the press, on the platform, and by public officials have carried us into a cloudland of fantasy... Clear, critical, realistic and rational recognition of current problems and perplexities is rare. (Sept. 7, 1929)

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