The Nebraskan
Tuesday, Oct. 181960
rage c
EDITORIAL OPINION
Homecoming Parade I
Ail Explanation
Due to a situation created by an error on the part
of the editor, a harassed night news editor was forced
to write a last minute editorial for Monday's paper, the
subject of which was the cancellation of the traditional
Homecoming parade. Unfortunately, the view expressed
was not that of the editor, so to make ourselves clear 5
and avoid contradicting ourselves we would like to pre-
sent our stand. I
, v , - i
Since there has consistently been a growing lack of
Interest in the parade in recent years, and 'it has not s
been the spectacle that it once might have been, we f
fee it was m the best interests of the campus to cancel
the parade rather than hav a flop.
Rather than attributing the lack of participation in
the parade to apathy and no spirit, we would place
the blame, if there need be any blame placed anywhere,
on the fact that students don't have the time to work
on both a float and a house display. In past, it might
have been possible to devote enough time to both of
Siese events? However, in less than 10 years the type
of house decoration and the amount of money invested
in the displays have changed considerably, in that
they are much more elaborate and expensive and, g
therefore, require considerably more time.
If students want to continue putting the energy into
Homecoming that they have in the last few years, they 5
will have to forget the parade and confine their ex-
pressions of spirit to house displays Neither the time
nor tne money is avauaoie
We don't feel the alums will be disappointed with
the abolishment of the parade for this year. A poorly
presented parade would have caused more criticism
about spirit than none at all. If the house displays are
ifv . wn and if th Huskftrs 3
Ult? vallll c Liia k ui-j i ' v wvvu -
play a good game, you wont hear complaints from
anybody.
On The Subject
Of Economic Growth
nom;;Vow"UwuIlcJear mTsconcepUons In I
our readers' minds about just what "economic growth"
is and how much we should have. This article is as un- I
biased as any we have read on the subject so far and pre-
sents a very clear explanation of the issue which has
been raised so often in the campaign.
Nixon and Kennedy have t?
on ine suojeci. iixon n5 stuu wis. c ucueve uiov S
the way in which government can best promote real
growth is by building a sound economic framework
in which private economy can operate at maximum
levels. We must never forget that growth is only one I
objective of national policy, though admittedly a vitally I
important one." 1
i
Kennedy has said this: "Last year the United States 1
had the lowest rate of economic growth of any major
industrialized society in the world . . . with a really
healthy rate of growth this country can have full em- p
ployment for all who want a job; ... we can pay for
all the defenses ... we can afford the best schools f
for our children and the best-paid and the best-trained
teachers.
I
We are not going to take a stand one way or another
at this time on the issue. By leaving your mind clear
of partisanship, we hope you will be able to come to
your own conclusions on the basis of what you believe
is best for the economy. This is an important issue I
in the campaign and it is important that as many vot-
ers as possible fully understand "economic growth." g
Vrf If mr I
Hill VFlllliy I
J
By Myron Papadakis
. and Bob Nye
The passage of time may
seem to be a never-ending
affair to most students.
That is, until they look into
their past and try to recall
events of the previous
years. If they try this the
events of the past may
teem hazy and out of focus,
for if not kept accurately
they fade into obscurity.
Rather than allow this to
happen we are going to
reminisce with you about
our early years.
We both attended P.S.
104 and spent our forma
tive years acquiring a free
and liberal public educa
tion. The first grade was
especially hard on us. Dur
ing the time when we should
have been playing in the
woods, and enjoying our
selves generally (for as
first graders we weren't
ready to accept the respon
sibilities of . the grown
world), we were forced in
to an early maturity by a
very cruel and strict
teacher. She didn't want us
to have any fun that was
considered normal for the
first graders (even though
when we look back it was
Daily Nebraskan
SEVENTT-ONE TEARS OLD
Member Associated Colleriate Press, International Press
Representative: National Advertisinc Service, Incorporated
Published at: Room 20, Student Union, Lincoln, Nebraska,
14th K
Telephone HE 1-7831. ext. 4225, 422C 4227
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some of it was a bit rogue I At home, too, growth
like). She wanted us to be I have its uses. It has
the most mature and become fashionable, to be
orderly first graders in the sure, to argue that our so
whole city. I cietY has become so rich
We kind of thought that 1 tlat w being tempted
the pressure of public opin- I mt0. ,ot of wasteful and
ion was affecting her and I ioohEh consumption. But
she was swayed by the f one ?.?ed4.n?t endorse vei7
principal (a very m e a n 1 "vohty that sovereign con
person) who had received! ?ume.rs m democracy
some complaints about have cosen t0 engge in
those naughty first graders ?? how very narrow a
at , P.S. 104. Sometimes I Probl.em is new puritan
it was the principal that was I iSra 18 kerned with,
strict and not our teacher. The average fnmfly ir
On top of the m e a n c(me in the United States
teacher and the question- I W,s $6,520 in 1959. the medi
able principal our class was an family income (at the
plagued by a hall proctor divide between the upper
fa grown man) who walked M and lower 50 percent;
the tightrope between staff ws approximately $5,300.
and student, good and evil These are substantia in
principle (meanl and prac- comes; they support a
tice I standard of living that is
Another thing that was f by fsr the highest in the
strange: the boys were al- world. But their recipients
ways the only ones in trou- probably would be s u r
ble. but we remember once prised to be told that they
a naughty girl was caught f are wallowing in luxury,
playing on the wrong side just as they would be sur
of the recess field (with the prised to hear that they are
boys and she was living on the borderline of
punished. 1 indigence, as some other
It seemed that we were critics of our society still
always the ones who got ;eem to believe. What the
caught. We were always ."igures tell us is that we
(Con't on Page 4) 1 have done well: but even
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, By Henry Wallich
If a man set out to dis-
COver the oldest, the most
enjurmg characteristic of
economy he might
u f ?0m yVe fl
well find that this char-
actenstic is growth,
Growth, accompanied by
constant change, has been
conunuou..
In the old days, people
called it progress, and took
j pretty much for granted.
Recently, growth has be-
come symbolized by the up-
ward movement of the
GNP (gross nati0nal p r 0-
h
duct we nave J?
rather self-conscious about
it. It can now be measured
from calendar quarter to
quartet and examined not
once but four each
year. But by watching it
closely, we are in danger
of repeating the experience
of toe housewife and her
I kettle that wouldn't boil.
We are in danger of be-
coming overly concerned
about Sh0rt-run .fluctuat-
Actualiv the rate of
"ons- ACiuauy, ine raie ot
growth in our economy, in
spite of substantial ups and
downs in the short run,
has been remarkably stable
I over the long run.
Professor Raymond
W. Goldsmith, measuring
jJffSft
haL "f . !
" 8rowth w" 155
"""f
"J " J;
UhTt
!?e iTzlnl ir ST.
,. , r 11
,rom 1847 10 e present at
n average 3.5 percent,
J . .vi.w..
Sro1"; .th"efore' m,gnj
" t0 tak " granted
""f Pf'nts did nd for-
get about it.
Nevertheless, we do face
urgencies today that put a
premium on more rapid
growth. Internationally, we
are compelled to complete
in the production of de-
fense equipment with a
power taht gives military
output top priority. We must
provide support to our al-
Jes, and we must help the
less developed countries
grow in freedom. We must
by our performance give
confidence to those who
have chosen our side in the
international competition.
Else we may see our sup-
Prters drift away and try
to make their own peace
with the other side.
without them, we know that
there is always room and
need for further growth.
We shall have to recognize,
furthermore, that a certain
amount of luxury consump-
tion ome may call it
waste is one of the char-
aCteriSUCS 01 a
free econ-
omv dedicated to material
, . .. . . .
progress and individual Wel-
1...
1re.
n
But DrOgreSS has manv
rfinipncionc nm. .
GimenSiOnS. 50me See KS
essence In more education
an more research, others
iB health and
stronger social securitv
i,iir 4U
Ome tnlDK ttiat the re-
hiilldinC af nnr fiHoc la o
fSSCniial part Of
0 - - ........ .j .0 W l
a better
jjfg
come want more de-
fense. Each BOint of View
Can find ItS justification,
.Plain Talk
Economic
But 1 a free society going
to give up creature com
forts In order to pay for
all this? Some of it can be
done privately, some of It
would have to be through
government, but all would
cost money. This money, If
it Is to be provided at all,
probably will have to come
out of a rising Income. It
is not likely to come out
of voluntary cutbacks of
other consumption.
The balance of tastes,
habits and i n t e r e s t s is
strong in a free society.
Major reallocation of re
sources is not likely, bar
ring a major emergency.
To have more of some
things we shall have to
have more of all, including
luxuries. That will be a
large bill which can be
footed ony out of vigorous
growth.
One further function of
economic growth should not
be overlooked. In American
society, growth of every
body's income has largely
taken the place of redistri
bution - of income from .
"rich" to "poor." In Euro
pean countries, where be
fore the war economic
progress had been much
slower than ours, bitter
class struggles developed.
Redistribution soaking
the rich was thought to
be the only form of better
ment for those who were
not rich. During the 1930's,
when America for a while
was beset by stagnation, a
similar emphasis developed
here. Since the war, the
rapid advance of European
livinp standards has pushed
socialism into the back
ground; and our own
growth, too, has once more
served to diminish interest
in such soak-the-rich solu
tions to economic prob
lems. If it can be agreed, then,
6,;i
that vigorous growth
important, what is it
is
that
makes for growth? How
has the economy grown in
the past, and how can we
help it grow hereafter?
One aspect of growth is,
of course, the rise in the
number of people at work,
which in turn is related to
our growing population. Be
cause of the rather low
level of births during the
1930's and early '40's, our
labor force has grown
rather slowly during the
1950'.. The high birth rate
of the later '40's and there
after make It obvious that
during the 1960's the labor
force will advance more
rapidly. From an a n n u a I
average of about 800,000
during the 1950's, annual
additions to the labor force
are expected virtually to
double by the end of the
I960's. This fact alone
promises to increase n r
rate of growth in the decade
ahead.
To make the promise
come true, however, it will
be necessary, of course, for
all these additional people
to find jobs. While some
fluctuations in the econo
my are no doubt inevitable,
we have learned a good oit
about what can be done to
minimize them. Here is an
important function the
government can perform :
to help create a climate of
stability, through its fis
cal and credit policies, in
' which business can provide
the jobs for a rapidly grow
ing labor force.
But mere numbers are
not everything. The quali
ty of the labor force counts
heavily Today, and in the
years ahead, the clearest
demand is for skilled labor
and for increasingly higher
skills. The unskilled are
less sure of finding jobs
than the skilled, as an anal
ysis of the unemployment
figures demonstrates. Ed
ucation is the key, of
course, to a more highiy
skilled labor force. In the
last decade, we have made
great strides in improving
our educational system .
Ten years ago, we were -Spending
$9.3 billion annual
ly on education. Today,
these outlays have advanced
to an estimated (23 billion,
a rate of increase about
twice as fast to the growth
of GNP The number of elfi
mentary and secondary
school teachers has
increased by about 50 per
cent, their . average com
pensation by about 70 per
cent, an increase more
rapid than that of most
groups of industrial work
ers. But because there are
now so many more young
people, further increases
will be needed, particularly
at the high school and col
lege levels. Business can
Growth
share in providing more
and better educational op
portunities by expanding its
- job training programs. The
upgrading of our labor
force that should result
from such efforts will be a
second step in attaining
higher growth.
Large research and de
velopment expenditures arc
a third step toward accel
erated growth. The history
of our past growth has
been not so much doing
more of the same, but do
ing something new, or do
ing the same by new and
better means. Funds for re
search and development,
public and private, have ex
panded enormously in re
cent years, from $5.2 billion
in 1953-54 to $12.4 billion
in 1959-60, an increase of
about 140 percent. More ad
vanced techniques and a
more highly skilled labor
force will thus go hand in
hand.
One further ingredient
needs to be added to this
growth formula: more cap
ital investment in business
plant and equipment, in in
ventories, in residen
tial construction, in high
ways and other public con
struction. It is through in
vestments like these that
we can add to the tools
that are needed to produce
a larger GNP. New invest
ment provides the oppor
t u h i t y for applying the
fruits of research. It sup
plies the jobs that the grow
ing labor force needs. It
ties together and brings to
fruition, in effect, all t h e
other factors that contrib
ute to growth.
Total expenditures for
private investment, includ
ing replacement of worn
out machinery and struc
tures, have been running at
an annual rate of $70-80
out of a GNP of over $500
billion. It is not easy to in
crease substantially a total
that Is already very large.
But a good deal can never
theless be done. The tax
s y s t e nv is important. It
should encourage saving
and investment and facili
tate the timely replacement
of outmoded machinery. .
Credit policies also have a
role to play. They must be
designed to avoid the dis
ruptive effect of inflation
and also to facilitate the
free flow of funds into pro
ductive uses. A wise choise
among public expenditures
is essential. We must hold
down expenditures that con
tribute little to productivity
but do take away funds
from more constructive
public or private use. We
must emphasize thos that
improve our physical plant,
our technology and the
quality of our labor force.
Finally, over-all fiscal and
monetary management de
signed to avoid unsustaina
ble booms and wasteful re
cessions is, of course, an
essential condition of stable
and rapid growth.
Policies of these kinds
hold out the promise of a
higher growth rate than we
have had in the past They
promise no miracles. The
rate of growth of the Amer
ican economy, as I said
earlier, has been very
steady over long periods of
time. WTe can improve it,
but we have no reason for
t h i n k i n g t hat we can
change it fundamentally
within the existing frame
work of a free economy If
we have to take stronger
measures. We would have
to do as we did in cwo
world wars. We would re- ,
strict consumption, reorient
the flow of production and,
under government control,
devote the resources tiius
set free to enlarging pro
ductive capacity. That is
the method, in effect, that
Soviet Russia is using to
build up her economy at
the expense of current con
sumption. It is a system
that requires 6trong gov
ernment compulsions n 3
compatible with a free soci
ety except in wartime. It
would mean to buy growth
at the expense of freedom.
If we value freedom, we
shall be well advised to
avoid extreme measures
not demanded by our situ
ation, and to torego tiie ex
tra margin of growth they
might yield as the cost of
this freedom.
Henry C. Wallich is a
member of the President's
Council of Economic Ad
visers and a professor of
economics, Yale Univer
sity, on leave. He is also
author of the recently pub
lished "The Cost of Freedom"
Straivs in
Sting American Cheeks
By Eric , Sevareid
London As tne British
Labor Party conference
ended after voting for a
Neutralized Britain, the
London columnist, "C a s-
s a nara,
wrote that
"One of the
uglier
by-p rod
ucts was
the con
tin jous
rumble
When
speakers were
Sevareid
b!iort oi
jibe, they were fairly cei
tain of a growl of approval
if they sneered at the Unit
ed States as a grossly ma
terialist society with a taste
for total war."
One of the ablest British
correspondents in the Unit
ed States informs his read
ers that "The United States
is just another country." An
English novelist, popular in
New York and Washington
saloons, exclaims at Lon
don dinner parties, "Amer-
' ica is finished."
These are the straws in
the European winds that
repeatedly sting the cheeks
of those Americans abroad
who dwell deeply enough in
: European thought and soci
ety to feel the currents of
change. Week after week
the attitudes reflected by
such remarks as these &re
projected in the press are
broadcasting of Britain and
France, from sociological
. studies to the snide pin
pricks of the quick-t r i p
writers who incessant
ly portray America in
. terms of New York's ju
venile thugs, Las Vegas
stripteasers, race riots and
Hollywood scandal
There is nothing new in
all this. What is new is
that this saturation has fi
" n a 1 1 y produced a sea of
change in the minds of mil
lions of Europeans, who no
longer think of America as
one with them, as an in
tegral part of the Western
mosaic of life, the chief
protector of their liberty.
They now think of America
as a third party, almost as
alien in spirt as Russia,
almost as reckless a threat
to their lives.
It is little wonder that
Prime Minister Macmillan
acts like an intermediary
between East and West as
often as he acts like ICA's
partner indeed he wins
more home applause in the
former than in the latter
role. It is little wonder that
Charles de Gaulle can
drive American bomb
ers off French soil and
threaten the American
dominated NATO command
structure while experienc
ing only murmurs of spe
cialized cirticism on his
home grounds.
And it is little wonder
that Khrushchev does all
in his power to make the
world believe that his quar
rel is with America, and
America alone. It is in this
sense that his barbaric
propaganda onslaughts are
serving his purpose, far
more than is understood
by those now pleased by his
rebuffs at the United Na
tions. He is not concerned
with the waves, but with
the current. When high
minded Englishmen tell
their people that "America
is finished" or that "Amer
ica is just another coun
I37HM
f
1 V I
the W inds
try," they mean that the
American dream has died,
that the vision and pronv
ise of the new world have
withered away, that Amer
ica is no longer the haven
of the poor, the strong and
simple defender of the op
pressed abroad or even at
home, that we have run
our course and are no long
er the last, best hope of
man.
This Is what they truly
believe, and so one con
stantly buffeted by this cur
rent is astounded to hear
, Vice President Nixon pro
claim that American pies
tige in the world "Has nev
er stool so high." An af
fronted American can tell
himself that "gross ma
terialism" has taken full
possession of nearly every
European society, that the
beginning and the end of
British foreign and domes
tic policy often seems to bo
the preservation of its pres
ent affluence, that the
French are profoundly ma
terialistic in spirit, that the
Germans are in full lust for
the fleshpots of affluence,
that every contemporary
American curse from ju
venile thuggery to sex mag
azines afflicts Europe, too,
from Athens to Oslo.
One can tell himself all
this, but it is not enough.
An American must believe
that new springs are coil
ing within his country, that
strong voices are at hand
to declare again the etern
al meaning of the freest,
best-hearted and most ex
citing human experience on
this earth and to make the
message convice those wha
were once convinced. He
must believe with one rare
and lonely British writer,
Peregrine Wrosthorne, that
an American cycle, not of
- smug complacency but of
incubation, is now ending
and that history will see
President Eisenhower "as
the model broody hen, sit
ting patiently, vacantly, but
nevertheless indispensably
on the eggs which are now
about to be hatched."
An American wants to be
able to remind European
critics that the time Wal
pole said, "Europe is fin
ished! When Voltaire dies,
we may say goodnight"
that, at the time he said
that, Europe was about to
enter upon its greatest flow
ering in power, in the aris,
in the humanitarian con
cerns of man to man.
Dw. 19M. Hall SjiKlicate. ine.
Seacresl Fund
Receives Gift
The Seacresl Loan Fund'
has received a second gift of
$8,000 from the J. C. Seacrest
Trust, according to Perry W.
Branch, director-secretary of
the University Foundation.
The loan fund was estab
lished through the foundation
last year by Joe W. and Fred
S. Seacrest, trustees of their
late father's trust.
The student loan fund will
be used to supply bans for
juniors, seniors and graduate
students who are residents of
Nebraska, have good moral
character, have proven abil
ity in their fields and are
worthy of financial assistance.
The loans will not exceed
$400 in any single year or
$800 to any one individual.
The selection of the recipients
will be approved by the Gen
eral Student Loan Committee
of the University.
rf"-. i 1 1 i r i 1 1 1