New Products of Industry and Changes in Markets

Archive Report

Consumer Demand and Economic Growth

Technological innovation, indispensable to sustained economic growth, is needed by American industry today as never before. An almost infinite variety of goods already competes for consumer attention. Unless attractive new products are developed, or unless many present products are improved or offered at lower prices, manufacturers will not have the necessary incentive for undertaking enlargement of plant facilities. Potentially huge markets here and abroad may remain untapped, and the expansion required to provide fuller employment may be impossible to achieve.

Because business leaders have been fully aware of both the opportunities and the hazards in the present situation, industrial research and development actually are going forward on an unprecedented scale. New products and processes and, equally important, new uses for existing ...

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