THE MICHIGAN DAILY
)OM SEEN IN 1960's:
Wernette Says Inflation
Prof. McNeil Appraises
The effects of inflation "are
never proportionately as serious
as those of deflation," Prof. J.
Philip Wernette of the School of
Business Administration, speak-
ing at the Pacific Coast Banking
School, said recently.
"The principal criticism I have
of inflation is its unfairness to
those who have to live on a fixed
income," W e r n e t tle explained.
"But inflation is not the destroy-
ing monster sometimes shown in
"The loss which some people,
suffer during inflation is partially
offset by the windfall gains of
others. Its effects are never pro-
portionately as serious as those of
"In the future, we are likely to
experience continuing inflation
unless government, business, labor,
and agriculture restrain extrava-
gant demands on the economy.
Inflation, after all, is man made."
If present trends continue, Prof.
Wernette said, the present eco-
nomic conditions which are im-
proving fairly rapidly indicate
that the recession will be the
shortest of the three major post-
After the recovery from the re-
cession, Prof. Wernette predicted
that there will be a "super-boom"
in the 1960's. Increased popula-
tion, productivity, and purchasing
power all point to major gains ov-
er the next five years, but the
economy will be marked by minor
People are beginning to become
aware of this .impending super-
boom, and this will add to the fa-
vorable long-term outlook," he
In the foreseeable future, Prof.
Wernette sees little chance of tax
cuts at any level of local, state or
national level. "Federal tax rates
will not be reduced .substantially
until the. international situation
becomes enormously better. Any
major tax cut would reuire re-
duced' spending for national de-
fense and this seems unlikely in
view of the cold war," he said.
"It is a tribute to the strength
of our economy that we have been
able to carry a growing burden of
taxation and still expand at a rate
of betweeen three and four per-
Prof. Wernette said he felt the.
United States was coming out of
the present recession "fairly rap-
idly." If the present pattern of ir-
regular improvements continues,
the decline will be the shortes
of the three major post-war re-
cessions, le added.
Subliminal perception "is a'very
dramatic cat that has gotten out'
of the bag but any appraisal of
recent research developments
makes it clear that this cat is only
one of many yet to come," accord-
ing to Prof. Elton B. McNeil.
Prof. McNeil, speaking at a
recent American Psychological
Association meeting held in Ann
Arbor, explained that recent popu-
lar interest in subliminal percep-
tion reached an apex when the
National Association of Broad-
casters recently forbade its use on
The future, Prof. McNeil pre-
dicted, will see subliminal stimu-
lation elevated to such heights of
commercial usefulness that it may
even rank with, the so-called 'sci-
entific' reports by 'independent'
labpratories, of the superiority of
one product to another. Far from
replacing current methods, the
most likely possibility is that sub-
liminal stimulation will be 'piled
atop' the current methods.
Prof. McNeil described three
areas which indicate great poten-
tial for external controling of
human behavior. 1) Sensory depri-
vation: the subject loses contact
with reality and is highly respon-
sive to outside instruction. 2) Sen-
sory monotony: the subject be--
comes susceptible to indoctrina-
tion. 3) Direct electrical brain
stimulation: the sensation is suf-
ficiently rewarding to make the
subject follow directions in order
to have the electric current turned
Prof. McNeil concluded, "Our
ability to control human moods
chemically and the enthusiasm
with which the public has rushed
to accept such control has a dis-
quieting effect on a person trying
to predict the future, because
tranquilizers might well grease the
skids for the more speedy arrival
of the era of human control.
... inflation's effects exaggerated
(continued from Page 13)
Prof. Wagman believes that it
"has stimulated more course-re-
lated and free, reading among
undergraduates and resulted in
improved use of the general library
by graduate students."
Graduates Double Use
In 1956-57, two-thirds of all the
persons using the General Library
were undergraduates. Since the
opening of the Undergraduate Li-
brary in January, graduate stu-
dents have nearly doubled their
use of the General Library.
The University's spending for
library services totaled about $82
per student in 1956-57. This com-
pares with $131 for the University
of California at Berkeley and $213
per student at Harvard University
for that year, according tostatis-
tics compiled by the Association
of College and Research Libraries.
Sees Great Potential
While the great demand for
services at the Undergraduate Li-
brary was not anticipated, Prof.
Wagman believes the . niversity
has only begun to exploit the
potential of library services to the
' While the" new, Undergraduate
Library has seating accommoda-
tions for 2,000 students, Prof.
Wagman believes 500 more seats
could easily be used during busy
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