6- almost universal use of research and development as a means for increasing labor productivity and reducing labor costs. Third, we have heard of the determined resistance by management to unreasonable labor demands and the willingness of various companies in the industry affected to stand side by side and to take a strike such as that now going on in the sugar industry in Hawaii. Except for those industries without an alternative, like the railroads and fire and casualty insurance, there has been in evidence here a real determination by industry to solve its own problems and not take the short-sighted way out of running to Washington and handing its problems to the government in the hope of temporary relief, a course that always carries with it lasting governmental interference in business. This to me is a healthy condition indeed. And we have learned that, while business is beset by problems, that business is not going to be beaten by those problems, for intelligent top management will seek and find solutions. In this work they will be aided by two factors of extreme importance: 1. The population explosion here and abroad which virtually underwrites expanding markets for the future. 2. A technological explosion resulting from research and development which brings the promise of exciting new products, the creation of new wants and desires, unmatched productivity, protection against the depletion of our natural resources, freedom from physical needs, and the opportunity of leisure, which if wisely used, can create a culture of higher accomplishment than anything yet known in the history of man.