A Letter From The Publisher: Dec. 14, 1970

ECONOMICS lies at the heart of politics," writes Washington Correspondent Lawrence Malkin, "and like your heart, you never notice it until it starts acting up."

In the U.S. these days, it would be hard to find anybody—politician, economist or ordinary citizen—who is unaware of the economic palpitations afflicting the nation. Indeed, as this week's cover story discusses in detail, the difficulties the U.S. is experiencing are shared by developed nations around the world. That became clear to Correspondent Malkin on a recent visit to Europe to renew friendships made during a seven-year stint covering the economic scene abroad. At one point, a...

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