...THESE HAVE LED TO LARGE LOSSES TO ALL ECONOMIC GROUPS

Includes
personal consumption expenditures plus government (Federal, state, and local)
expenditures ($535 and $50 billion, respectively)

Chart 3

TRENDS IN PRODUCTIVITY FOR THE
ENTIRE PRIVATE ECONOMY, 1910-1966
Average Annual Rate of Growth in Output per Man-hour
for the Entire Private Economy

Chart 4

INVESTMENT IN PLANT AND EQUIPMENT WAS DEFICIENT, 1953-1966 AS A WHOLE

ACTUAL AND NEEDED INVESTMENT 1953-1966

BILLIONS OF 1965 DOLLARS

AVERAGE ANNUAL

DEFICIENCY

1953-1966

Billions of 1965 Dollars

$4.0

BUT INVESTMENT IN MEANS OF PRODUCTION

AT TIMES OUTRAN DEMAND;

HENCE INVESTMENT CUTS AND RECESSIONS

Investment in Plant and Equipment

Ultimate Demand: Total Private Consumption Expenditures Plus Total Public Outlays For Goods and Services

Chart 5

COMPARATIVE GROWTH IN VARIOUS ASPECTS OF U.S. ECONOMY 1961-1966

(Uniform Dollars)

Based on preliminary data for fourth quarter 1966; corporate profits for fourth quarter 1966 estimated.
Source: Dept. of Commerce, Office of Business Economics and CEP.

Chart 6

PRICE, PROFIT, INVESTMENT, AND WAGE TRENDS DURING CURRENT ECONOMIC UPTURN