Word: superboom
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Dates: during 1960-1969
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Japan's businessmen are expanding their plants at an unprecedented rate, largely with imported heavy machinery. And as the benefits of the resulting superboom trickle down, Japan's consumers have gone on an epic spending spree, snapping up in ever increasing quantities everything from electric rice cookers to autos. In response, many Japanese manufacturers who used to produce for export are now producing for the domestic market...
...boom,' " said U.C.L.A. Economist Robert Williams last week. But for all his semantic fastidiousness, Dr. Williams-like many another forecaster-could find no better term to describe what the U.S. economy seems headed for. The real optimists had an even more hyperbolic word to describe what is coming: Superboom. By next spring, they predict, Berlin-inspired defense orders will strain U.S. productive capacity, and by Christmas 1962, the gross national product will soar to nearly $600 billion...