HOW does the 1957-58 recession compare with the two other postwar business dips of 1948-49 and 1953-54? Last week the nonpolitical Committee for Economic Development brought out a remarkable set of graphs that for the first time put the recent downturn in clear focus—and incidentally laid to rest some cherished views about combatting recessions. Starting at the first real dips, C.E.D. individually plotted such prime indicators as industrial production, gross national product, employment, inventory changes, plant expansion, month by month or quarter by quarter to show the relationship of each to...
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