Vietnam and the U.S. Economy

Those who believe that the American economy can provide the means both to fight the war in Vietnam and wage massive attack on poverty at home must also believe that economic resources can be shifted from private to public purposes, without affecting privileged positions and vested interests and possibly without jeopardizing the very sources which under American capitalism generate growth. For such a shift would, at the least, require heavy increases in taxation, which would weaken private investment and consumption and strengthen the public non-defense sector. They also must read into available unemployment statistics the view that the utilization of manpower is running below optimum levels, and must infer that enough “slack”...