The author examines social and economic trends in the United States, focusing on three components: productive capacity, economic policy, and socio-economic organization. Productivity is rising quickly and steadily, the author reports, with wages rising faster than prices. American economic policy, the author notes, has staked a middle ground between Adam Smith and Karl Marx landing (in a non-doctrinaire way) somewhere near John Maynard Keynes. This philosophy manifests itself in a firm commitment to private enterprise, but also in a willingness to pursue specific socioeconomic aims with government regulations, such as minimum wage laws, and maintaining firm control over the money-supply. Structurally, the author explains, the US has become less individualistic and more collectivist or group-centered, both due to enormous growth in the corporate sector and to the vast expansion of unions and collective labor relations.
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Reich, Nathan. Some Social and Economic Perspectives in the United States. The Jewish Social Service Quarterly. Jewish Communal Service Association of North America (JCSA),National Conference of Jewish Social Welfare. September 1950: