OUTLOOK: The Political Economy of '76

Not since the mid-1930s have economic issues seemed likely to play as large a role in a presidential election as this year. Although the nation is recovering from its deepest postwar recession, unemployment, inflation and the role of the Federal Government in the economy are among the most important concerns of candidates, voters—and the nine members of TIME'S Board of Economists, who gathered in Manhattan last week for their first session of the new year/Their discussion previewed the debate that will resound throughout the primaries and the fall campaign.

The general mood...