A Letter From The Publisher, Jan. 3, 1955

Dear Time-Reader: While you are reading this Man of the Year issue of TIME, our editors are preparing another annual feature for next week's issue: TIME'S year-end review of the U.S. economy.

The subject is a dramatic one because economics has been major news throughout 1954. As we have reported week after week, the economy of the U.S. adjusted to the "recession," moved successfully from the Korean war rate of spending to armed peace, continued to thrive and confound the "gloom peddlers" and to help support the defense structure of the entire free world....

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