Sport: BUSINESS IN 1954

IN the economic year of 1954 the world had a clear and easily understandable measure of the soaring strength of the U.S. That measure was the great bull market in stocks. Stock prices rose higher than in 1929, and on the last day of the year the Dow-Jones industrial average hit an alltime high of 404.39. But what gave the bull market historic significance was that it symbolized the strongest possible confidence in the capitalistic system, a confidence that had often seemed lacking, even among U.S. capitalists themselves, in previous years of the boom. The remarkable fact about this surging confidence...

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