Hostname: page-component-76fb5796d-wq484 Total loading time: 0 Render date: 2024-04-26T13:56:01.493Z Has data issue: false hasContentIssue false

Beyond Civics and the 3 R's: Teaching Economics in the Schools

Published online by Cambridge University Press:  24 February 2017

Andrew L. Yarrow*
Affiliation:
American University in Washington, DC

Extract

During the twenty to twenty-five years after World War II, children in the United States were increasingly taught to understand their nation, its history, and its economic greatness—as an “economy”—rather than in social, moral, philosophical, or political terms (i.e., as a society, a community, a republic, etc.). Equally powerful was its message that the U.S. economy was an unprecedented marvel of productivity and a facet of Americanness of which to be proud and to defend. During this time period, not only did an economics education movement emerge, but economics increasingly was taught as part of social studies, history, or other classes, and a huge amount of curricular material was developed and disseminated for classroom use.

Type
Article
Copyright
Copyright © 2008 by The History of Education Society 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

1 Brinkley, Alan, The End of Reform: New Deal Liberalism in Recession and War (New York: Alfred A. Knopf, 1995); Nelson Lichtenstein, “From Corporatism to Collective Bargaining: Organized Labor and the Eclipse of Social Democracy in the Postwar Era,” in The Rise and Fall of the New Deal Order, 1930–1980, ed. Fraser, Steve and Gerstle, Gary (Princeton, NJ: Princeton University Press, 1989); Godfrey Hodgson, , America in Our Time (New York: Vintage Books, 1976); Wolfe, Alan, America's Impasse: The Rise and Fall of the Politics of Growth (New York: Pantheon Books, 1981); Griffith, Robert, “Forging America's Postwar Order: Domestic Politics and Political Economy in the Age of Truman,” in The Truman Presidency, ed. Lacey, Michael J. (Cambridge: Woodrow Wilson International Center for Scholars and Cambridge University Press, 1989); Fones-Wolf, Elizabeth, Selling Free Enterprise: The Business Assault on Labor and Liberalism, 1945–1960 (Urbana: University of Illinois Press, 1994); Robert Collins, The Business Response to Keynes, 1929–1964 (New York: Columbia University Press, 1981); Collins, Robert M., More: The Politics of Economic Growth in Postwar America (New York: Oxford University Press, 2000); Lears, T.J.Jackson, Fables of Abundance: A Cultural History of Advertising in America (New York: Basic, 1994); Cohen, Lizabeth, A Consumers’ Republic: The Politics of Mass Consumption in Postwar America (New York: Knopf, Alfred A., 2003); Jacobs, Meg, Pocketbook Politics: Economic Citizenship in 20th-Century America (Princeton, NJ: Princeton University Press, 2005); and Bernstein, Michael A., A Perilous Progress: Economists and Public Purpose in Twentieth-Century America (Princeton, NJ: Princeton University Press, 2001).Google Scholar

2 Joint Council on Economic Education, “Education for the Economic Challenges of Tomorrow: A Report of a Symposium in Conjunction with the 10th Anniversary of the JCEE, 1949–1959” (New York, 1959), 2830.Google Scholar

3 Leach, William, Land of Desire: Merchants, Power, and the Rise of a New American Culture (New York: Pantheon, 1993).Google Scholar

4 Secondary school enrollment, which was about 45 percent in 1930 and 60 percent in 1945, rose to more than 90 percent by 1965. Similarly, kindergarten enrollment rose from 21 percent in 1950 to 70 percent in 1965. National Center for Education Statistics, 120 Years of American Education: A Statistical Portrait (NCES Web site); and Barnett, W. Steven and Belfields, Clive R., “Early Childhood Development and Social Mobility” (unpublished paper, Brookings Institution, 2005).Google Scholar

5 McCabe, James D., The Centennial History of the United States (Philadelphia: The National Publishing Co., 1875), 4; and McGuffey cited in Knud Krakau, ed. The American Nation, National Identity, Nationalism (New Brunswick, NJ: Transaction Publishers, 1997), 39.Google Scholar

6 See, for example, McCabe, , The Centennial History of the United States;, Montgomery, David H., The Leading Facts of American History (Boston: Ginn & Co., 1900); and Morris, Charles, Young Student's History of the United States (Philadelphia: J.B. Lippincott Co., 1900), 3, 250.Google Scholar

7 Fitzgerald, Frances, America Revised: History Schoolbooks in the Twentieth Century (Boston: Little Brown, 1979), 170–74.Google Scholar

8 Ibid., 53, 59, 63, 65; and Muzzey, David Saville, An American History (Boston: Ginn and Co., 1920), 537.Google Scholar

9 West, Willis Mason, American History and Government (Boston: Allyn and Bacon, 1913), iii, chap. 1–11.Google Scholar

10 Fitzgerald, , America Revised, 107–08; and Moreau, Joseph, Schoolbook Nation: Conflicts Over American History Textbooks From the Civil War to the Present (Ann Arbor: University of Michigan Press, 2003), 171, 209.Google Scholar

11 West, American History and Government, iii, 642, 703.Google Scholar

12 Charles, and Beard, Mary R., History of the United States: A Study in American Civilization (New York: Macmillan, 1921), 186, 297, 401, 620.Google Scholar

13 Fitzgerald, , America Revised, 114; and Casner, Mabel B. and Gabriel, Ralph H., Exploring American History (New York: Harcourt, Brace & Co., 1933), 750, 560, 625.Google Scholar

14 Lerner, Robert, Nagai, Althea K., and Rothman, Stanley, Molding the Good Citizen: The Politics of High School History Texts (Westport, CT: Praeger, 1995), 107; and Moreau, Schoolbook Nation, 210ff.Google Scholar

15 Fitzgerald, , America Revised, 37; Moreau, , Schoolbook Nation, 230ff; and Rugg, Harold Ordway, A History of American Civilization: Economic and Social (Boston: Ginn and Company, 1930), 596, 606, 615–24. Rugg even offered the heretical observation that women were paid less than men for the same jobs.Google Scholar

16 Moreau, , Schoolbook Nation, 241, 243, 248; and Fitzgerald, , America Revised, 37.Google Scholar

17 Brinkley, Alan, The End of Reform: New Deal Liberalism in Recession and War (New York: Alfred A. Knopf, 1995); and Nelson Lichtenstein, “From Corporatism to Collective Bargaining: Organized Labor and the Eclipse of Social Democracy in the Postwar Era,” in The Rise and Fall of the New Deal Order, 1930–1980, ed. Fraser, Steve and Gary Gerstle (Princeton, NJ: Princeton University Press, 1989).Google Scholar

18 Fitzgerald, , America Revised, 55; see also Moreau, Schoolbook Nation, 256–59.Google Scholar

19 Fitzgerald, America Revised, 55–56.Google Scholar

20 Ibid., 105, 109.Google Scholar

21 Casner, Mabel B. and Gabriel, Ralph H., The Story of American Democracy (New York: Harcourt, Brace & Co. 1946), v, 301, 342, 577.Google Scholar

22 Harlow, Ralph Volney and Miller, Ruth Elizabeth, Story of America (New York: Henry Holt, 1947), v, 391–92, 664. Harlow and Miller largely avoid the New Deal and World War II, but note that other countries “all recovered from the Depression without a New Deal.”Google Scholar

23 Whalen, Frank D., and Baldwin, Orrel, Our America (New York: Noble and Noble, 1953), 241, 318.Google Scholar

24 Wirth, Fremont P., The Development of America (New York: American Book Company, 1950), 1, 225, 811.Google Scholar

25 Wirth, Fremont P., United States History Revised Edition (New York: American Book Company, 1957), introductory section.Google Scholar

26 Ibid.Google Scholar

27 Muzzey, David Saville, A History of Our Country: A Textbook for High School Students (Boston: Ginn and Company, 1945), 109, 313, 806, 897.Google Scholar

28 Ibid., 137, 164, 320–21. While a hint of change can already be seen in 1950, when Muzzey proudly notes America's pre-eminent position in car and telephone ownership, it is only in the 1955 edition that he devotes a full four chapters to “How Our Reunited Country Increased in National Wealth and Power.”Google Scholar

29 Wilder, Howard B., Ludlum, Robert P., and Brown, Harriet McCune, This is America's Story (Boston: Houghton Mifflin, 1954), 2, 7, 664.Google Scholar

30 Ibid., 507, 509, 467; 2, 7, 664; and Wilder, Howard B., Ludlum, Robert P., and Brown, Harriet McCune, This Is America's Story (Boston: Houghton Mifflin, 1963), 481, xi, 442, 535.Google Scholar

31 Bragdon, Henry W. and McCutchen, Samuel P., History of A Free People (New York: Macmillan, 1954), ix, 3, 672, 644. Interestingly for a high school text, Bragdon and McCutcheon commend the CED for helping to prevent a postwar depression.Google Scholar

32 Hartman, Gertrude, America: Land of Freedom (Boston: D.C. Heath, 1959), 577–78, 583. The only discordant notes in this tale of “continuing industrial progress” are the unspoken, but implicit fear that nuclear war, depression or other “natural disaster” (sic) could call a halt to this march of progress, and the surprising exhortation “to increase production and spread its benefits so that every family will share in the abundance which by our united efforts we are now able to produce.”Google Scholar

33 Hartman, Gertrude, America: Land of Freedom, vi–vii.Google Scholar

34 Moon, Glenn W., Cline, Don C., and MacGowan, John H., Story of Our Land and People (New York: Henry Holt, 1957), x, 399, 441, 472, 474, 599, 611.Google Scholar

35 Moon, Glenn W., Story of Our Land and People (New York: Henry Holt, 1949), xiii, 582.Google Scholar

36 McGuire, Edna and Portwood, Thomas B., Our Free Nation (New York: Macmillan, 1954), v.Google Scholar

37 Wilder, Howard B., Ludlum, Robert P., and Brown, Harriet McCune, This Is America's Story (Boston: Houghton Mifflin, 1954), 507; Philip Dorf, American History in Review (New York: Keystone Education Press, 1954), 231; and Wilson, Howard Eugene and Lamb, Wallace E., American History (New York: American Book Company, 1955), 589, 577–80.Google Scholar

38 Ibid., 543, 514.Google Scholar

39 Todd, Lewis Paul and Curti, Merle, The Rise of the American Nation (New York: Harcourt, Brace and World, 1966), 810, 556, 545, 815, 797.Google Scholar

40 Hicks, John D., Mowry, George E., and Burke, Robert E., A History of American Democracy, 3d ed. (Boston: Houghton Mifflin Co., 1966), 788–89.Google Scholar

41 Link, Arthur, The Growth of American Democracy: An Interpretive History (Boston: Ginn, 1968), 725, 676, 669–73, 573.Google Scholar

42 Edwin Fenton/Carnegie-Mellon University Social Studies Curriculum Center, The Americans: A History of the United States (New York: American Heritage Publishing Co., 1970), 8081, 461.Google Scholar

43 Graff, Henry F., The Free and the Brave: The Story of the American People (Chicago: Rand McNally, 1967, 1972), 580–81, 674, 682, 686. Graff wrote cynically of American abundance, under the caption “Atrocities Against Man and Nature:” “The industrial might of the United States has produced oceans of food and goods. This might has enticed Americans into the accumulation of material things a high goal of life.”Google Scholar

44 Senior Scholastic, February 1950 and Feb. 9, 1956.Google Scholar

45 National Museum of American History, Ayer Collection, Series 3, Box 36.Google Scholar

46 “America's Economic System,” Senior Scholastic, March 15, 1950. Sarnoff's forecast of e-mail by 2000 is uncanny. See also Paul Hoffman Papers, Box 118, Harry S. Truman Library Institute, Independence, MO.Google Scholar

47 “Business, Labor, and the Citizen Good,” Senior Scholastic, April 11, 1951.Google Scholar

48 Senior Scholastic, “Our Economic Picture Today: Changing Face of America” (March 17, 1954); “Economic Records Broken” (October 27, 1955); “1956: Another Boom Year?” (Feb. 9,1956); “U.S. Boom Keeps Rolling” (Feb. 8,1957); “Are We Having Too Much Prosperity?” (March 8, 1957); and “U.S. Charts Its Course for '62” (Feb. 7, 1962).Google Scholar

49 Senior Scholastic, “America: The Middle Way” (Dec. 8, 1955); “Democratic Capitalism” (April 19, 1956); and “Watchdogs on Wall Street” (Nov. 7, 1958), which concluded that “the owners of the world's richest nation are the people of the world's richest nation.”Google Scholar

50 Senior Scholastic, “Special Issue: The American Economy 1962—From Main Street to Wall Street,” April 18, 1962.Google Scholar

51 The National Association of Manufacturers presented “Industry on Parade” each week on NBC-TV from 1950 to 1960, and “The American Economy,” produced by the CED, the Joint Council on Economic Education, and the American Economic Association, aired on CBS from 1962–64 (see pp. 33–34, below).Google Scholar

52 Moore, Colleen Ann, “The National Association of Manufacturers: The Voice of Industry and the Free Enterprise Campaign in the Schools, 1929–1949” (dissertation, University of Akron, 1985), 376, 379, 715, 716, 731–32. The NAM, at the peak of its influence during the Truman Administration, even sought to educate Americans about their economy's beneficence through the pulpit, briefly sending a monthly magazine called Understanding to tens of thousands of clergy.Google Scholar

53 Hill, Richard Nelson, “The Joint Council on Economic Education: A Program For Curriculum Change” (dissertation, Duke University, 1980), 8; and Haig Babian, “Economic Literacy in a Free Society,” Challenge, March 1964.Google Scholar

54 Museum, Hagley and Library, Wilmington, DE: Joint Council on Economic Education Papers.Google Scholar

55 NYU Workshop on Economic Education, “Problems of Our American Economy” (1948); CED, “Improving Economic Understanding in the Public Schools” (1950), 3; and Hill, “The Joint Council on Economic Education: A Program For Curriculum Change,” 17–21. Starr said that “labor's stake in economic education is the indispensable base of intelligent citizenship in an advancing community;” quoted in CED, “Improving Economic Understanding in the Public Schools” (1950), 15. Former JCEE leaders argue that it was a nonpartisan organization and effort that simply sought to expand “economic literacy,” although they acknowledge that the Cold War did contribute to the movement's success. Interviews with Stowell Symmes, Williamsburg, VA, October 2, 2004; Mark Schug, February 7, 2005; and Leon Schur, February 15,2005.Google Scholar

56 Hoffman, , the president of Studebaker, was enormously influential in shaping postwar beliefs about the United States and its economy. A driving force behind the CED, Hoffman was a key leader of the Advertising Council, later president of the Ford Foundation, and the domestic administrator of the Marshall Plan. Benton was co-founder of the prominent advertising agency, Benton & Bowles, but also was a vice president of the University of Chicago, a Truman Administration appointee, publisher of the Encyclopedia Britannica, a delegate to several United Nations agencies, and a Democratic Senator from Connecticut from 1949 to 1953. Ruml, an economist, was a dean at the University of Chicago, an executive at Macy's, and a New Deal adviser who proposed income-tax withholding. James T. Howard, “Improving Economic Understanding in the Public Schools” (CED, 1950), 17.Google Scholar

57 Schriftgiesser, Karl, Business Comes of Age: The Story of the Committee for Economic Development and its Impact upon the Economic Policies of the United States, 1942–1960 (New York: Harper and Brothers, 1960), 27.Google Scholar

58 NYU Workshop on Economic Education, “Problems of Our American Economy” (1948); Baker, G. Derwood, “The Joint Council on Economic Education,” Journal of Educational Sociology 23, no. 7 (March 1950), pp. 389–96; and Interview with Stowell Symmes, Williamsburg, VA, October 2, 2004.Google Scholar

59 JCEE economist Lawrence Senesh described the four goals of economic education as promoting “growth, stability, security, and freedom.” Quoted in Bienvenu, Harold J., “Economic Education: Problems and Progress,” Elementary School Journal 59, no. 2 (November 1958), pp. 102. The JCEE's associate director, Edward J. Allen, said as much, asserting that economic understanding is essential to preserve freedom in our “most titanic struggle.” Edward J. Allen, “Program of the JCEE,” Journal of Higher Education 30, no. 2 (February 1959), pp. 94–98.CrossRefGoogle Scholar

60 CED, “Improving Economic Understanding in the Public Schools” (1950), 8.Google Scholar

61 Senesh, Lawrence, quoted in Joint Economic Committee, subcommittee on economic progress. “Economic Education,” vol. II: “Related Materials” (1967).Google Scholar

62 Statement of Frankel, Dr. M. L., Hearings Before the Subcommittee on Economic Progress of the Joint Economic Committee, Congress of the United States, Economic Education, April 21, 1967, 58; and Interviews, Charles L. Schultze, Washington, DC, June 3, 2005; and Todd May, July 24, 2004.Google Scholar

63 Hill, , “The Joint Council on Economic Education: A Program for Curriculum Change,” 111.Google Scholar

64 Ibid., 62, 107, 115–16; and Stowell Symmes Interview, October 2, 2004.CrossRefGoogle Scholar

65 Frankel led the organization well into the 1970s.Google Scholar

66 Joint Council on Economic Education, “Bibliography of Free and Inexpensive Materials for Economic Education” (1955). Some other titles included the Ad Council's “An Examination of the American Economic System,” the Chamber's “Free Markets and Free Men,” the NAM's “Industry's Goal: Building a Better America,” and materials by the Conference Board, the American Institute of Management, the CED, the American Bankers Association, Chase Manhattan, Standard Oil of New Jersey, US Steel, Ford, and Chrysler (“Modern Industry and Human Values”). Reprints of New York Times, Fortune, Saturday Review, Life (“U.S. Growth: Our Biggest Year”), and Business Week (“25 Years that Remade America”) were also included in the JCEE's bibliography.Google Scholar

67 Carskadon, Thomas R. and Modley, Rudolf, U.S.A. Measure of a Nation: A Graphic Presentation of America's Needs and Resources (New York: Twentieth Century Fund/The Macmillan Company, 1949), foreword, 1, 97, 98. Only incidentally, at the end, does the book suggest that we not “overlook in our national exuberance” other values such as relationships, art, and spiritual ideals.Google Scholar

68 Carskadon, Thomas R. and Soule, George, U.S.A. in New Dimensions: The Measure and Promise of America's Resources (New York: Twentieth Century Fund/The Macmillan Company, 1957), 120–24. This 124-page, illustrated booklet included the Fund's oft-repeated line: “Of all the great industrial nations, the one that clings most tenaciously to private capitalism has come closest to the socialist goal of providing abundance for all in a classless society.”Google Scholar

69 Twentieth Century Fund and Encyclopedia Britannica Films, “Productivity: Key to Plenty” (Chicago, 1951).Google Scholar

70 Kazanjian, , of the Peter Paul Mounds candy fortune, was a particularly active supporter of economic education.Google Scholar

71 Joint Council on Economic Education, “Bibliography of Free and Inexpensive Materials for Economic Education” (1957).Google Scholar

72 Ibid.Google Scholar

73 Moore, Colleen Ann, “The National Association of Manufacturers: The Voice of Industry and the Free Enterprise Campaign in the Schools, 1929–1949” (dissertation, University of Akron, 1985), 659.Google Scholar

74 Museum, Hagley and Library, Wilmington, DE: National Association of Manufacturers Records, 1917–70, Accession 1411, Series 6, Box 219; and CED, “Study Materials for Economic Education in the Schools” (October 1961); and Hagley, Joint Council on Economic Education Papers.Google Scholar

75 Museum, Hagley and Library, Wilmington, DE: National Association of Manufacturers Records, 1917–70, Accession 1411, Series 6, Box 99.Google Scholar

76 McKee, C. W. and Moulton, H. G., A Survey of Economic Education (Washington, DC: The Brookings Institution, 1951).Google Scholar

77 CED Study Materials for Economic Education in the Schools,” October 1961.Google Scholar

78 Leamer, Laurence E. and Thomson, Dorothy Lampen, American Capitalism: An Introduction (New York: Council for Advancement of Secondary Education, 1958, 1968), 2, 62, 77, 89, 22.Google Scholar

79 Personal papers of JCEE, Stowell Symmes;, “Our Growing America,” Hagley Museum and Library, Wilmington, DE: Joint Council on Economic Education Papers; and CED, “Study Materials for Economic Education in the Schools,” October 1961.Google Scholar

80 Joint Council on Economic Education, “Education for the Economic Challenges of Tomorrow: A Report of a Symposium in Conjunction with the 10th Anniversary of the JCEE, 1949–1959” (New York, 1959).Google Scholar

81 Ibid., 21. Bower, Marvin, managing director of McKinsey, echoed this message.Google Scholar

82 CED, “Economic Education in the Schools” (National Task Force on Economic Education, September 1961), 7, 9, 15, 22, 43, 64–78. Task force members included Paul Samuelson, the JCEE's M. L. Frankel, and longtime economic education advocate and Stanford economist G. L. Bach.Google Scholar

83 Schriftgiesser, Karl, Business and Public Policy: The Role of the Committee for Economic Development, 1942–1967 (Englewood Cliffs, NJ: Prentice-Hall, 1967), 209–10.Google Scholar

84 Bach, G.L., “Economics in the High Schools,” American Economic Review 51, no. 2 (1961), 579–86; Olson, Paul R., “This Is Economics,” American Economic Review 51, no. 2 (1961), pp. 564–70; Ellis, Howard S., “This Is Economics,” American Economic Review 51, no. 2 (1961), pp. 571–78; Coleman, John R., “Economic Literacy: What Role for Television?” American Economic Review 53, no. 2 (1963), pp. 645–52; Stigler, George J., “Discussion,” American Economic Review 53, no. 2 (1963), pp. 23–25; and Wagner, Lewis E., “Task Force to Classroom.” American Economic Review 53, no. 2 (1963), pp. 660–73. As longtime economic-education proponent and University of Wisconsin professor Leon Schur said, the task force report made economic education more respectable among economists; Interview with Leon Schur, February 15, 2005; and Interview with Stowell Symmes, October 2, 2004.Google Scholar

85 Coleman, John R., “Economic Literacy: What Role for Television?” American Economic Review 53, no. 2 (May 1963), pp. 645–52; Learning Resources Institute, “Prospectus for ‘The American Economy',” Dec. 1961 and March 20, 1962, in Departments and Agencies: Council of Economic Advisers, Box 73, Kennedy, John F. Presidential Library, Boston, MA; Statement of Dr. M. L. Frankel, Hearings Before the Subcommittee on Economic Progress of the Joint Economic Committee, Congress of the United States, Economic Education, April 21, 1967, 59; Karl Schriftgiesser, Business and Public Policy: The Role of the Committee for Economic Development, 1942–1967 (Englewood Cliffs, NJ: Prentice-Hall, 1967), 209–10; and Interview with Stowell Symmes, October 2, 2004. JFK's Secretary of Commerce Luther Hodges lauded the series in a January 15, 1963 speech, urging all adults to watch; Vital Speeches XXIX, no. 9, 288.Google Scholar

86 Personal papers of Stowell Symmes; and Statement of Lawrence Senesh, Professor of Economic Education, Purdue University, Hearings Before the Subcommittee on Economic Progress of the Joint Economic Committee, Congress of the United States, Economic Education, April 17, 1967, 41. By 1989, DEEP was in 1,836 school districts covering 39 percent of America's students; Walstad, William B. and Soper, John C., “Effective Economic Education in the Schools” (JCEE, 1991), in Hagley Museum and Library, Wilmington, DE: Joint Council on Economic Education Papers.Google Scholar

87 Joint Economic Committee, hearings of the subcommittee on economic progress, Economic Education, April 14, 17, 21, 1967, and vol. II; Related Materials. Statement of Marvin Bower, managing director, McKinsey & Co., 29–31. Witnesses included economist and CEA member James Duesenberry, several businessmen, a union official, school officials, and economic education leaders such as M. L. Frankel, Lawrence Senesh, and Leon Schur.Google Scholar

88 Interview with Schug, Mark, February 7,2005. Walstad estimated that 29 percent of high school students were taking economics by 1987; Walstad, “Economic Instruction in the High Schools.”Google Scholar

89 Interview with Symmes, Stowell, October 2, 2004; Walstad, William B., “Economic Instruction in the High Schools,” Journal of Economic Literature 30, no. 4 (December 1992), pp. 2019–51; Hill, Richard Nelson, “The Joint Council on Economic Education: A Program For Curriculum Change” (dissertation, Duke University, 1980).Google Scholar

90 Interviews with Schug, Mark, February 7, 2005; Schur, Leon, February 15, 2005; and Symmes, Stowell, October 2, 2004. The JCEE changed its name to Economics America/the National Council on Economic Education in 1992. The Securities Industry and Financial Markets Association estimates that 700,000 high school students now play the stock market game. See www.stockmarketgame.org.Google Scholar

91 See Senior Scholastic, “Special Issue: The American Economy 1962—From Main Street to Wall Street,” April 18, 1962.Google Scholar