(Commerce Secretary Luther H. Hodges - in 1961 High-Tech meant transistor radios)
How the economic times have changed. The only thing that stays the same are the people out of work - they will never stop. Also looming recessions - those will be with us forever. In 1961 former Governor Luther H. Hodges was appointed Secretary of Commerce in the Kennedy Administration, and in this February 5th Meet The Press edition, Hodges is the first of the New Frontier Cabinet to be interviewed by a panel.
The concerns are the same - Foreign competition and the strength of the Dollar.
Luther H. Hodges (on the question of Foreign competition): “Basically, this country, when it’s running at its best efficiency can meet most any kind of competition even though it may be lower wages elsewhere. So I think that, overall we are not going to have any great trouble. Now there will be certain adjustments we may have to make for certain small segments.”
The biggest competition was coming from Japan, West Germany and the rest of Europe. All those countries who had to be rebuilt as a result of the devastation of World War 2. High Tech wasn't even considered a word in 1961. China wasn't considered a viable competitor or even anyone we were recognizing. India was a little over 10 years out of British rule and had not, for all intents and purposes, entered the world economic/labor force.
It was all part of the Post-War World. The new scary one hadn't come about yet.