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A. SUMMARY OF RECOMMENDATIONS IN THE ECONOMIC Report of
B. REPORT TO THE PRESIDENT ON THE ACTIVITIES OF THE COUNCIL
C. POPULATION CHANGES AND PROSPECTS...
D. STATISTICAL TABLES RELATING TO THE DIFFUSION OF WELL-
E. STATISTICAL TABLES RELATING TO INCOME, EMPLOYMENT, AND
LIST OF TAbles and CHARTS
(Chapters 2 and 3 and Appendix C)
1. Changes in Gross National Product and Its Major Components, 1954-56......
2. Changes in Production, Employment, and Personal Income, 1954-56...
3. United States Exports of Goods and Services, 1952-56.
4. Changes in Industrial Production, 1955-56..
5. Security Offerings, 1953-56...
6. Changes in Commercial Bank Holdings of Loans and Investments, 1953-56.....
7. Consolidated Cash Statements of Federal and State and Local Governments, Calendar Years 1952-56..
C-1. Population Change, 1946-56...
C-2. Average Future Lifetime Expected at Birth, Selected Years,
C-3. Distribution of the Female Population Aged 14 and Over, by
C-4. Median Ages of the Population and the Labor Force, Selected
C-5. Enrollments in Elementary and Secondary Schools, Selected
C-6. Fall School Enrollment of the Civilian Noninstitutional Pop-
C-7. Indicators of Extension of Public Elementary and Secondary
C-8. Projections of the Population of the United States in Selected
1. Economic Expansion, 1952-56.....
2. Change in Composition of Output, 1952 to 1956.....
5. Agricultural Production and Technology Since Prewar.
7. Economic Adjustments, 1953-54..
8. Economic Activity, 1954-56...
9. Employment and Income, 1955-56.
10. Farm Income and Price Developments, 1950-56...
11. Carry-Overs of Selected Crops, 1952-57.
12. Wholesale Prices, 1954-56..
13. Consumer Prices, 1954-56...
14. Demand for Funds, 1954-56..
15. Bank Loans, Investments, and Deposits, 1954-56.
16. Bond Yields and Interest Rates, 1953–56. . .
17. Federal Receipts and Expenditures, 1953-58.
18. Member Bank Reserves, 1954-56..
C-1. Population and Projections to 1975.
C-2. Births Through 1956 and the Number of 18-Year-Olds to 1974.
Opportunity and Responsibility
HE ENORMOUS PRODUCTIVE POWER of the American economy was demonstrated again in 1956 when the Nation's output of goods and services reached $412 billion. This vast and increasing output provides the means for assuring our national security, supplying our present consumption needs, and building our capacity for future production. Furthermore, it is accompanied by the release of additional time for creative personal development as well as for the more complete enjoyment of material things. Our free economy thus affords the American people an opportunity for
better living in all its aspects.
These accomplishments reflect the efficiency of competitive markets as
in a free society. Among these are wide access to education and training,
tutions. No form of government offers greater opportunity for individual
less well understood.
These responsibilities, which center on the need for preserving and strengthening the institutions of competitive enterprise, are borne in part by Government. First, Government must pursue policies that give positive encouragement to the spirit of enterprise and protect the essential incentives to work, to save, and to invest. These policies must be designed with consideration not merely to their present impact but also to their long-run effect on the vitality and resiliency of the economy. Second, Government must exercise a strict discipline over its expenditures and must