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THE NATIONAL BROADCASTING COMPANY
ockefeller Plaza, New York 20, N. Y.
JACK TRACY ROOM 320
2-X-H
ROBERT W. SARNOFF WARNS U.S. CAN WIN ECONOMIC ’RACE TO 1980’ AGAINST KHRUSHCHEV CHALLENGE ONLY IF GOVERNMENT AND BUSINESS DEVELOP SENSE OF MISSION KEEPING ECONOMY EXPANSION AT FULL POTENTIAL
CHICAGO, Oct. 20 — America can win the economic "race to 1980" against Nikita Khrushchev’s challenge only if government and business both develop a sense of mission to keep the economy expanding at full potential, Robert W. Sarnoff, Chairman of the Board of the National Broadcasting Company, warned here today.
In an address to the Executives’ Club of Chicago, Mr. Sarnoff said that Khrushchev's economic goals for 1980 - multiplying Soviet industrial output sixfold — "commits us to a race in which we dare not drift or lag." He emphasized that Russia had already passed the U. S. in annual investment in growth-producing industry and was pursuing a ruthless policy of total economic mobilization under government control.
"We must compete in this economic race on our own terms, " he added. "Fortunately, as we have demonstrated in the process of becoming the most productive and powerful nation on earth, freedom is no burden: it is a spur. We will win the race not only with our freedom but because of our freedom.
"But we will have to do better."
That, he said, will take not only a spirit of alliance between government and business but concrete action on both sides to further the national economic goals that may spell survival for the free world.
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Department, Hoorn 320