Are Profits Too High?
Philip Murray, spokesman for the CIO, has argued that wages must be increased to keep pace with living costs and that the increases can be paid out of profits without increasing prices. SUMNER H. SLICHTER, on the other hand, believes that profits are not high enough if we are to have the expanding industrial plant which this country needs. Economist and teacher, Mr. Slichter has been a mediator in many difficult labor disputes. Born in Madison, he took his A.B. degree at the University of Wisconsin and his Ph.D. at the University of Chicago in 1918, and is today Lamont University Professor at Harvard and chairman of the Research Advisory Board of the Committee for Economic Development.