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The Big Postwar Story: Abundance and the Rise of Economic Journalism
Abstract
The post-World War II era saw a dramatic transformation of U.S. financial journalism. Financial reporting changed from reciting stock quotations, company earnings, and puff pieces on businessmen and individual companies to broader stories about the national economy and what economic trends meant for average Americans. The readership of business publications also expanded enormously during the twenty years after the war, and economic reporting gained a more prominent place in major newspapers and general-interest magazines. What once was intended for a small cognoscenti of businessmen was now geared to the burgeoning postwar middle class. Most significantly, financial journalists recognized that the era's big story was America's dramatic economic growth and mass prosperity along with the changes that these were bringing about in American society.
... The state took on the role of the supervision and/or control of national economies, with greater or lesser rigor, depending on the case. Industrial and financial capitalism was replaced by state-led capitalism, in which the search for welfare -through Keynesian policies -and the management of macroeconomic conditions gave a new visibility to the "Economy," with a capital E, as the new protagonist of the news discourse (Emmison 1983, Yarrow 2006. ...
The news and economic activity are two closely related phenomena. Ever since writing helped human beings to manage in society, the recording and transmission of relevant information about events related to their economic and commercial activities have been essential tasks. However, it was not until the sixteenth century, one hundred years after Gutenberg developed the use of movable type, and during a period of great commercial expansion resulting from the discovery and exploitation of the New World, that we can speak of the creation of stable and advanced systems for the dissemination of economic news. Since then, the development of economic journalism has been marked by the intersection of historical events in several interrelated fields: the history of economics and finance, the history of economic thought, the history of technology, and the history of media and journalism. This chapter examines this evolution in five stages, coinciding with the development of commercial capitalism (price currents), industrial capitalism (economic magazines), financial capitalism (financial newspapers and business magazines), state capitalism (economic newspapers, business sections in general dailies, and the first audiovisual business news), and popular capitalism (popularization of business and economic news and development of multimedia content). In all of these phases, economic and financial booms and busts, the struggle between new and old economic ideas, certain social and political changes, the emergence of new professions, and the implementation of technological advances have been the key factors in the configuration of economic and business journalism.
... A loose monetary policy was also implemented while interest rates were kept low and banking regulations were relaxed to stimulate the economy. All of these factors have contributed to the U.S. having severe unsustainable structural imbalances in its government finances [36], [37]. ...
“War is an ugly thing, but not the ugliest of things: the decayed and degraded state of moral and patriotic feeling which thinks that nothing is worth a war, is much worse. This research analyzes existing data to review the impact on unemployment in the U.S. following each conflict and war it has been involved in. There is a comparison drawn to the Roman Economy and its dependence on war to and the economy of the U.S. and the causes of its ability to have economic success and the impact on unemployment of U.S. workers as a result.
... Previous to and during this same period, American society maintained a conversation about the risks associated with the rise of mass production and mass consumption, as evidenced in the mid 1960s by publications such as Business Week, The Wall Street Journal, Fortune and Time Magazine all expressing concern about the performance of the consumption-based economy and the impact of the economy on the environment, education, government, public works, poverty as well as the need to seek greater meaning beyond material consumption alone (Yarrow, 2006;Edwards, 2014). ...
The notion that the consumer is in a position of power relative to corporations is taken for granted by corporations, economists, and consumers in today's mass consumption landscape. This research questions and ultimately debunks the belief in the powerful consumer through (1) the concept of power and sexuality put forth by Foucault, (2) fashion as discourse discussed by Barthes, (3) analysis of French and Raven's uses of power, and (4) consumer interviews. This research shows that consumers are not aware of all the tools for power at their disposal, do not see an alternative to consumption as viable, are unable to extricate themselves from normative dynamics inhibiting their ability to question their position, are trapped by their desires for consumption, and want to see themselves as a powerful entity. Further, this research demonstrates that corporations have the greater power relative to consumers, are invested in perpetuating the myth of the powerful consumer and use their power to reinforce their position. The discussion is concluded by addressing the implications of this research at a societal level, namely in service of sparking a dialog at a policy, cultural, and economic levels about power and value.
... During the late 1960s, those authors turned from pointing out the superfluous character of consumer preferences in affluent contexts to producing unorthodox writings about the power of producers to control markets by persuading consumers (Galbraith 1967;Mishan 1967;Scitovsky 1972Scitovsky , 1976. Unlike Katona's view of consumers being 'powerful' in contexts of mass consumption, the literature on mass production developed alongside a change in the public view of affluence: from optimistic accounts, to worries about the fragility of American prosperity, the misuse of natural resources and the nuclear threat, to name a few (Yarrow 2006). ...
... During the late 1960s, those authors turned from pointing out the superfluous character of consumer preferences in affluent contexts to producing unorthodox writings about the power of producers to control markets by persuading consumers (Galbraith 1967;Mishan 1967;Scitovsky 1972Scitovsky , 1976. Unlike Katona's view of consumers being 'powerful' in contexts of mass consumption, the literature on mass production developed alongside a change in the public view of affluence: from optimistic accounts, to worries about the fragility of American prosperity, the misuse of natural resources and the nuclear threat, to name a few (Yarrow 2006). ...
The aim of this essay is to present and explain the emergence and decay of two unorthodox views of consumer behaviour that developed from the mid-1940s to the mid-1970s: the view of the powerful consumer and the view of market control by producers. It begins by presenting their common origins in empirical studies that opposed the Keynesian-type analysis of consumption. While the first developed into the program of behavioural economics defended by George Katona of the Michigan Survey Research Center, the second nourished the contributions of authors like Galbraith (1958, 1967, 1977), Scitovsky (1954, 1962, 1976) and Mishan (1960, 1967).
... In the post World War II period, business reporting in the U.S. articulated an " ideology of abundance " to an expanding audience that included not only a 15 narrow business elite but now a broader swath of affluent middle class America. American business publications of the era described American capitalism as a system of mass production and consumption that had discovered the secret to stable and constant economic growth through cooperation between business and government (Yarrow, 2006). In the 1970s, The Wall Street Journal served as an arena for the discussion and dissemination of supply-side economic policies (Parsons, 1989, ch.5; Scharff, 1986, ch.14). ...
... Business reporting in post-World War II America told the story of growth (Yarrow, 2006). Interrupted by the Korean War from 1949 to 1952, the postwar period contrasted sharply with prewar assumptions of endemic depression and economic weakness. ...
The cultural authority of social science hinges on its public representation. In postwar United States of America, the business media were influential promoters of the appreciation of economics. This essay examines the work of a journalist and editor, Leonard S. Silk, and a magazine, Business Week, to reveal how trust in economics was established in the 1960s. Electing a cast of representatives of the economics profession, the media examined their biography, character and social identity. Economists were first assigned the identity of assistants to business planning, as forecasters. Soon after, economists were represented as experts on the fiscal management of the economy, as government advisers. Overall, trustworthiness in the media was a measure of the perceived independence of economists from their employers and from ideology.
Professional economists wield considerable power as experts and policymakers. Consequently, economists frequently appear in the media, where they comment on current economic issues and assess economic policy options. Despite the status of economists, little is known about the relationship between economists and the media and how economists use the media to promote economic and political interests. Building on the scholarship on the mediatization of expertise, this article analyzes the mediatization of the economist profession. The article draws on 17 semi-structured interviews with Finnish economists who appear frequently in the news media. The findings reveal how institutions from private banks to research institutes use economists to advance their economic and political interests via the media. It is found that using social media and serving journalists are elemental parts of an economist's job description. Furthermore, economists work closely with communications professionals to advance organizational interests. This article argues that further research should analyze how mediatization intertwines with the work of economic experts.
Over the past decade, financial, business, and economic news coverage has been in the spotlight of a public and academic debate. The debate is partly related to the perceived failure of financial journalists to warn the public about the early signs of the global financial crisis of 2007/2008. Given the documented effects of economic news exposure on consumer and political behavior, this entry examines research findings on the content and the production challenges related to financial, business, and economic journalism.
Purpose
This paper aims to investigate whether the assumption of bias-free journalism is violated. If there is systematic news coverage bias inherent in business journalism, certain kinds of companies will have a systematically higher or lower visibility in business news. Such differential corporate visibility may undermine the validity of research that is based solely on business news as a data source.
Design/methodology/approach
A set of hypotheses is developed and statistically tested, concerning the corporate characteristics associated with business media coverage. Coverage of the 100 largest Finnish companies is examined within the three foremost Finnish business publications. Methodologically, uncorrelated principal components in regression analyses are used.
Findings
The main finding is that that financially low-performing companies and growing companies receive less coverage than well-performing or shrinking companies, indicating a possible bias in journalistic sourcing, attention or selection. Consequently, such companies may be relatively under-represented in data sets derived solely from business news sources.
Research limitations/implications
Significantly greater in-depth understanding of the phenomenon could be obtained through studying the biases at play in day-to-day journalistic practices within editorial offices and news desks, which is beyond the present study. The study cautions against single sourcing strategies reliant on business news alone, and it strongly recommends that future studies complement business news data with other, non-news sources.
Practical implications
Organizational metrics such as financial performance appear to influence corporate visibility in business news, which may therefore skew individuals’ and investors’ attitudes to corporations. The existence of coverage bias is methodologically consequential because management research often sources data from business news, especially in event-based studies.
Originality/value
This study provides evidence that media visibility is influenced by company performance and change in company size, which could contribute to bias in business news coverage. This should be taken into account in future studies that use business news data.
Media coverage of income inequality and the economic plight of the middle class fails to analyze the long-term effects of growing inequality and to consider possible solutions. The article examines the literature on media coverage of income inequality and the middle class, and then examines how three competing models, the neoclassical economic model, the propaganda model, and the institutionalist model,explain the inadequate coverage of the effects and solutions.
Scholarly engagement with the magazine form has, in the last two decades, produced a substantial amount of valuable research. Authored by leading academic authorities in the study of magazines, the chapters in The Routledge Handbook of Magazine Research not only create an architecture to organize and archive the developing field of magazine research, but also suggest new avenues of future investigation. Each of 33 chapters surveys the last 20 years of scholarship in its subject area, identifying the major research themes, theoretical developments and interpretive breakthroughs. Exploration of the digital challenges and opportunities which currently face the magazine world are woven throughout, offering readers a deeper understanding of the magazine form, as well as of the sociocultural realities it both mirrors and influences. The book includes six sections: Methodologies and structures presents theories and models for magazine research in an evolving, global context. Magazine publishing: the people and the work introduces the roles and practices of those involved in the editorial and business sides of magazine publishing. Magazines as textual communication surveys the field of contemporary magazines across a range of theoretical perspectives, subjects, genre and format questions. Magazines as visual communication explores cover design, photography, illustrations and interactivity. Pedagogical and curricular perspectives offers insights on undergraduate and graduate teaching topics in magazine research. The future of the magazine form speculates on the changing nature of magazine research via its environmental effects, audience, and transforming platforms.
This study considers the emergence of personal finance magazines in the US after the Second World War. It examines an instance when a possible relationship existed between a media genre’s emergence and shifts in the general political economy. It suggests that the appearance of the personal finance genre was related to the shift in the American political economy from corporate liberalism to neoliberalism. Specifically, it focuses on the hailing patterns evident in personal finance magazines’ editorial statements, and finds that these patterns attempt to constitute a popular and heterogeneous investing public of independent individuals in which magazines supplant other agents as sources of advice.
Hired Pens tells the story of the class of full-time independent professional writers who emerged in America in the 1830s and '40s and flourished during the great age of print that began after the Civil War and continued into the 1960s. While most accounts of the writing life focus on high-culture artists, Hired Pens treats authors who pursued the shifting popular tastes of Grub Street. Likewise it treats a literary marketplace that includes not only novels and poetry but gift annuals, story papers, general-circulation magazines, dime novels, pulp and slick magazines, newspaper syndicates, and paperback originals.
Prosperity Decade: From War to Depression
- George Soule
George Soule, Prosperity Decade: From War to Depression, 1917-1929 (New York: Holt, Rinehart &
Winston, 1962).
Economy is Like a Regular .300 Hitter
- Walter Heller
Walter Heller, "Economy is Like a Regular.300 Hitter," Life, March 10, 1961, pp. 24-25. This Life
article, captured this attitude.
Is a New Era Really Here?
U.S. News & World Report, "Is a New Era Really Here?" May 20, 1955, pp 21-23;
Perpetual Prosperity: Is the Business Cycle Out
- Leon Keyserling
Leon Keyserling, "Planning for a $300 Billion Economy," The New York Times Magazine, June 18,
1950, p. 9ff.
63 "Perpetual Prosperity: Is the Business Cycle Out?" The Nation, January 29, 1955, pp. 96-98.
64 "Where Do We Go From Here?" Life, January 5, 1953, pp. 86-92; and "I Predict We'll Have Greater
Prosperity," Look, January 1, 1955, pp. 42-43.
51-55; and "The Boom-Bust Cycle: How Well Have We Got It Tamed?
- Sumner Slichter
Sumner Slichter, "Have
We Conquered the Business Cycle?" The Atlantic, May 1955, pp. 51-55; and "The Boom-Bust Cycle: How
Well Have We Got It Tamed?" Business Week, November 3, 1956, pp. 176-178.
- Jerry M Rosenberg
Jerry M. Rosenberg, Inside the Wall Street
Journal (New York: Macmillan, 1982), pp. 75, 214-215;
The Business of America: 100 Years of the Journal
- Peter Baida
Baida, Peter, "The Business of America: 100
Years of the Journal," American Heritage, December 1988 39 (8), pp. 16-18; and Francis X. Dealy, The
Power and the Money: Inside the Wall Street Journal (New York: Birch Lane, 1993).
Luce and the Rise of the American News Media
- James L Baughman
- R Henry
James L. Baughman, Henry R. Luce and the Rise of the American News Media, p. 66;
75, 94, 97; and New York World-Telegram, World Almanac and Book of Facts
- Arthur Jones
- Malcolm Forbes
Arthur Jones,
Malcolm Forbes (New York: Harper & Row, 1977), pp. 75, 94, 97; and New York World-Telegram, World
Almanac and Book of Facts (New York).
Eisenhower Presidential Library
- D Dwight
Dwight D. Eisenhower Presidential Library, Abilene, Ks.: C.D. Jackson Papers and Records of Gabriel
Hauge.
Roundtable on Demobilizing the War Economy
The 17-page 1941 supplement, "Roundtable on Demobilizing the War Economy," Fortune, November
1941, supplement, pp. 1-20, was based on a conference convened by Fortune in the Berkshires that drew
together New Deal opponents, labor leaders, economists such as Galbraith and Slichter, and liberal
businessmen such as Ralph Flanders. See "The United States in a New World: III-The Domestic
Economy," Fortune, November 1943, supplement, pp. 1-13.
See also Robert T. Elson, The World of Time Inc.: The Intimate History of a Publishing Empire
- Time Inc
Time Inc., Writing for Fortune (New York: Time Inc. 1979), p. 128. See also Robert T. Elson, The World
of Time Inc.: The Intimate History of a Publishing Empire. (New York: Atheneum, 1968-73), vol. II, pp.
196-203.
Full Employment' Was to Create Economic Paradise, But America is Discovering That There is No Substitute for Freedom and Hard Work
- For
For example, see "The Myth of Unlimited Abundance; 'Full Employment' Was to Create Economic
Paradise, But America is Discovering That There is No Substitute for Freedom and Hard Work," Wall
Street Journal, October 8, 1946, and "We Have Been Warned: State Planning Means Allocations, Controls,
Constant Shortages of Materials, Liberal Advocate Warns," Wall Street Journal, February 9, 1949.
Truman's New Society
- Jerry M Rosenberg
Jerry M. Rosenberg, Inside the Wall Street Journal (New York: Macmillan, 1982), p. 78
26 "Truman's New Society," Wall Street Journal, January 10, 1949";
Social Progress-The Record
Wall Street Journal, March 2, 1956;
and "Social Progress-The Record," Wall Street Journal, May 31, 1960, for prosperity under Eisenhower;
for criticism of Eisenhower's pro-welfare state policies
"The New America," Wall Street Journal, September 1956, for criticism of Eisenhower's pro-welfare state
policies;
Leon Keyserling Papers, Box 78
- S Harry
- Library
- Independence
- Mo
Harry S. Truman Presidential Library, Independence, Mo.: Leon Keyserling Papers, Box 78. On January
17, 1952, for example, The Times reprinted the entire Economic Report in 11 pages of dense type, and most
papers played the Economic Report as a prominent front-page story.
Economic Storms Weathered by
- John G Forrest
John G. Forrest, "Economic Storms Weathered By U.S.," The New York Times, January 5, 1953.
Transition to Peace: Business in AD 194Q
- John Kenneth Galbraith
Some of the notable exceptions included Luce's essay, "The American Century," Life, February 17,
1941, pp. 61-65 (reprinted as a supplement to Fortune, November 1941, and in Reader's Digest, April
1941, pp. 45-49); and John Kenneth Galbraith, "Transition to Peace: Business in AD 194Q," Fortune,
January 1944, p. 83ff.
Reformation of the World's Economies
- Henry Luce
Henry Luce, "Reformation of the World's Economies," Fortune, February 1950, pp. 59-63.
The American and His Economy: About Our $1,300,000,000,000 Economy
- John K Jessup
John K. Jessup, "How to Make the Troubled U.S. Economy Succeed Without Juggling: Choices Ahead
for New Prosperity," Life, August 24, 1962, pp. 72-78 and Reader's Digest, November 1962.
38 "The American and His Economy: About Our $1,300,000,000,000 Economy," Life, January 5, 1953, pp.
7-100; "Boom Time," "Luckiest Generation," and "Wizards of the Coming Wonders," Life, January 4,
1954, pp. 6-11, 27-29, 92-94; "The Good Life: From 1890-1975-Leisure of the Classes and the Masses,"
Life, December 28, 1959, pp. 12-185.
(cover); and "If Our Pay Envelopes Are Fatter Now, It's Because Workers Produce More
"The Fabulous Fifties: America Enters An Age of Everyday Elegance," October 2, 1956 (cover); and "If
Our Pay Envelopes Are Fatter Now, It's Because Workers Produce More," Saturday Evening Post, April 3,
1954, pp. 7, 22, 46, 76.
Condensing the Cold War
- Joanne P Sharp
Joanne P. Sharp, Condensing the Cold War: "Reader's Digest" and American Identity (Minneapolis:
University of Minnesota Press, 2000), p. 12.
Continuing Revolution in the U.S
- America
America's Vast New Leisure Class," Reader's Digest, January 1954, pp. 12-14; "Fresh View of
Capitalism," Reader's Digest, July 1956, pp. 137-138; "Continuing Revolution in the U.S.," Reader's
Digest, August 1955, p. 72; "Second U.S. Revolution That Shook All Mankind," Life, July 13, 1959, pp.
28, 94-96 (reprinted in Reader's Digest, October 1959, pp. 37-40); "Our Gadgets Set Us Free," Reader's
Digest, August 1953, pp. 33-34; "What Marxism Promises, U.S. Capitalism Delivers," Reader's Digest,
February 1957, pp. 173-174.
Robert Wagner's aide during the Depression, continued to publish in the Times, the New Republic, and elsewhere after leaving office. See, for example
- Keyserling
Keyserling, who had written popular articles as Sen. Robert Wagner's aide during the Depression,
continued to publish in The Times, The New Republic, and elsewhere after leaving office. See, for example,
"The Boom-Bust Cycle: How Well Have We Got It Tamed?" Business Week, November 3, 1956, pp. 176-
Unsystematic American System
- Frederick Lewis
Frederick Lewis Allen, "This Time and Last Time: Postwar Eras I and II," Harper's, March 1947, pp.
193-203 (reprinted in Reader's Digest, June 1947); "Unsystematic American System," Harper's, January
1952, pp. 21-26, and Reader's Digest, August 1952, pp. 107-111; "What Have We Got Here?" Life,
January 5, 1953, pp. 46-50; and The Big Change: America Transforms Itself, 1900-1950 (New York:
Harpers & Brothers, 1952).
The Challenge of Prosperity
The American Economy 1959," Saturday Review, January 17, 1959, pp. 17-46; "The Challenge of
Prosperity," Saturday Review, January 9, 1965, pp. 23-32ff.
- Allen Wallis
W. Allen Wallis in "The American Economy 1959," Saturday Review, January 17, 1959, pp. 17-46.
The Unseemly Economics of Opulence
- John Kenneth Galbraith
John Kenneth Galbraith, "The Unseemly Economics of Opulence," Harper's, January 1952, pp. 58-63;
If We're So Rich, What's Eating Us?
- Robert Lekachman
and Robert Lekachman, "If We're So Rich, What's Eating Us?" Harper's, February 1956, pp. 38-42.
49 "Challenge to Our Economy," The New Republic, June 11, 1956, pp. 21-26, and June 25, 1956, p. 3ff;
Eisenhower's Second Term
"Growth Growth Growth" The New Republic, November 7, 1960, pp. 21-23; "What America Can Afford,"
The New Republic, March 7, 1960, pp. 15-23; "Time for a Keynes," The New Republic, October 20, 1962,
p. 35; and "Eisenhower's Second Term," The New Republic, November 6, 1965, pp. 25-27.
Several of Keyserling's frequent articles were digests of pamphlets from his pro-growth Conference on Economic Progress. 51 "Prosperity for Whom?
- Leon Keyserling
Leon Keyserling, "The
Prospects for Prosperity in 1955," The New Republic, March 14, 1955, pp. 13-17; "How Fast Do We
Grow?" The New Republic, June 16, 1958, pp. 7-8; "Report on the Economy," The New Republic, July 10,
1961, pp. 13-16; and "Time for a Keynes," The New Republic, October 20, 1962, p. 35. Several of
Keyserling's frequent articles were digests of pamphlets from his pro-growth Conference on Economic
Progress.
51 "Prosperity for Whom?" Nation, October 2, 1954, p. 284; "Voodoo Prosperity," Nation, October 23,
1954, pp. 358-60; "Perpetual Prosperity," Nation, January 29, 1955, pp. 96-98; "What Makes Prosperity,"
Nation, February 4, 1956, p. 82; "People's Capitalism," Nation, February 25, 1956, p. 151; "Myth of
Guaranteed Prosperity," Nation, June 3, 1961, pp. 471-476; and "Economics of Affluence," Nation, June 2,
1962, pp. 493-496.
The World of Time Inc., 257-58
- See Elson
See Elson, The World of Time Inc, pp. 257-58.
Full Employment-Beveridge Model
- Alvin Hansen
Alvin Hansen,
"Planning Full Employment," Nation, October 21, 1944, p. 492; and Mordecai Ezekiel, "Full Employment-Beveridge Model," Nation, March 3, 1945, pp. 251-53.
Full Employment-Beveridge Model
- Mordecai Ezekiel
Mordecai Ezekiel, "Full Employment-Beveridge Model," Nation, March 3, 1945, pp. 251-253;
that "a nation which organized itself for maximum production in war can organize itself for peacetime prosperity
- Mordecai Ezekiel
Mordecai Ezekiel, "Road to Postwar Prosperity,"
Scientific Digest, September 1943, pp. 37-42; "Two Types of Crises; We Must Act to Avoid Mass
Unemployment and Make Sure Bureaucratic Control at No Time Takes the Place of Individual Creative
Effort," The Wall Street Journal, July 30, 1945.
55 "Full Speed Ahead," Time, September 9, 1946, p. 83; "Boom: IT's Started, but--" Newsweek, April 1,
1946, p 68ff; and "Boom: A Second Look," Fortune, December 1946, pp. 113-119. David Lawrence, U.S.
News' chief editorial writer, argued on October 19, 1945, that "a nation which organized itself for
maximum production in war can organize itself for peacetime prosperity."
56 "How Well Can Americans Live?" Fortune, May 1947, pp. 124-132.
57 "Economists See 1950-1960 Boom," The New York Times, April 25, 1947; "U.S. Economic Trends from
1950 to 1960," The New York Times, May 4, 1947; and "Surveying American Economy in Terms of
American Needs," The New York Times, June 1, 1947.
58 "Good Times A-Comin,'" Life, May 5, 1947, pp. 30-31; and Time, "Everything for Everybody?" May 5,
1947, pp 85-86. Indeed, the idea that the "mature economy" thesis was a "myth" began to be widely
reported when the Fund's report was released, as evidenced in the 16-page synopsis, "USA: 1950-1960,"
Business Week, April 26, 1947, pp. 55-70.
Our Postwar Economy-Bigger or Different
Business Week, "Our Postwar Economy-Bigger or Different," October 4, 1947, p. 116.
60 "Who's Utopian Now? Fortune, January 1948, pp. 2-4;
Upturn in Business is Not Far Away
- Sumner Slichter
Sumner Slichter, "Economic Picture: More White Than Black," The New York Times Magazine, May 22,
1949, p. 7ff; Sumner Slichter, "Upturn in Business is Not Far Away," The New York Times Magazine, July
17, 1949, p. 7ff; Sumner Slichter, "How Big in 1980?" Atlantic, November 1949, pp. 39-43 (excerpted in
Time, November 7, 1949, p. 21;
Better Than We Think
- Sumner Slichter
Sumner Slichter "Better Than We Think," Atlantic, Janaury 1950, pp. 46-
We Can Win the Economic Cold War Too
- Sumner Slichter
Sumner Slichter, "Our $416 Billion Future," Science Digest, February 1950, pp. 68-73; and "We Can
Win the Economic Cold War Too," The New York Times Magazine, August 13, 1950, p. 7f..
How America Feels As It Enters the Soaring Sixties
- U S Growth
Fortune, The Changing American Market, p. 13; "U.S. Growth: Our Biggest Year," Life, January 4,
1954; and "How America Feels As It Enters the Soaring Sixties," Look, January 5, 1960, pp. 11-12.
71 "Social Progress -The Record," Wall Street Journal, May 31, 1960.
72 Interview with Todd May, July 21, 2004.
Ten Amazing Years: The Official Story of America's Growth
"Half Trillion," Time, January 31, 1955, p. 12; "Ten Amazing Years: The Official Story of America's
Growth," U.S. News & World Report, February 1, 1957, pp. 26-29; and "The Big Surge: The New
America," Newsweek, December 12, 1955, pp. 56-60.
Life's high-toned, pedagogical style was derided by its somewhat more down-market competitor, Look, as "condescending
"The American and His Economy," Life, January 5, 1953, pp. 7-100. Life's high-toned, pedagogical style
was derided by its somewhat more down-market competitor, Look, as "condescending."
Special Report: The Changed American Market-There Are More, Richer, Freer-Spending People in Every Region
Some of the more notable ones during these four years include: "U.S. Growth: Our Biggest Year... and
Basis for a Bigger Future," Life, January 4, 1954; "Special Report: The Changed American Market-There
Are More, Richer, Freer-Spending People in Every Region," Business Week, July 4, 1953, pp. 74-76;
Fortune's yearlong 1953 series that became its book, The Changing American Market, and the nearly 40-article 1955 series that became The Fabulous Future
"Leisured Masses," Business Week, September 12, 1953, pp. 142-43, and September 19, 1953, pp. 144-46
(reprinted as America's Vast New Leisure Class," Reader's Digest, January 1954, pp. 12-14; and "25 Years
That Remade America," Business Week, September 4, 1954, pp. 74-76; "The Big Land at Mid-'53: Hot,
Rich, At Work," Newsweek, July 13, 1953, p. 73; "In a Season of Plenty," Newsweek, September 12, 1955,
pp. 29-30; and "The New America," Newsweek, December 12, 1955, pp. 56-60; Fortune's yearlong 1953
series that became its book, The Changing American Market, and the nearly 40-article 1955 series that
became The Fabulous Future; "On the Rise," Time, May 17, 1954; "In the Pink," Time, May 9, 1955, p. 22;
"Prosperity and Expansion," Time, December 31, 1956; Arthur Burns, "Good Times Ahead: $400 Billion
Economy," U.S. News & World Report, October 14, 1955, pp. 48-51; "Everybody Rich in the U.S.?: The
15-Year Trends in Incomes," U.S. News & World Report, October 26, 1956, pp. 27-32; "Ten Amazing
Years: The Official Story of America's Growth," U.S. News & World Report, February 1, 1957, pp. 26-29;