Money and Credit: Their Influence on Jobs, Prices, and Growth: Report

Money and Credit: Their Influence on Jobs, Prices, and Growth: Report

Money and Credit: Their Influence on Jobs, Prices, and Growth: Report

Money and Credit: Their Influence on Jobs, Prices, and Growth: Report

Excerpt

This report represents the deliberations of a diverse group of American citizens. They were assisted by an able staff of scholars and by a group of advisers of great competence. The members of the Commission were deliberately selected with the advice of a distinguished Selection Committee to provide a group of men with different backgrounds: banking, business, government, labor, and the professions. All members had broad, practical economic experience. It could fairly be said that their conclusions represent a consensus of American philosophy and economic judgment today.

No member of the Commission, whether or not he has written or joined in specific footnotes, endorses personally every specific proposal in its entirety or concurs fully with every statement in the supporting analysis, but all approve the major substance of the report and urge careful consideration of its interrelated recommendations.

The funds for this effort were provided by the Ford Foundation, the Merrill Foundation, and the Committee for Economic Development. None of these organizations exerted the slightest pressure. There were no restrictions as to the scope and method of the work, and certainly no restrictions as to the judgments reached.

This report is deliberately short, perhaps too short in view of the vital importance of the areas covered. The purpose was to gain more readers. We have not attempted to set forth in the report itself the mass of evidence on which our recommendations and conclusions are based. Much of the material used in reaching conclusions will be published separately as supporting papers. These will appear under the names of their authors with no indication of concurrence or disagreement by members of the Commission, its advisers, or its staff. They will be published for the benefit of those dealing with the same problems and to stimulate scholars to probe further into areas where firm knowledge is patently inadequate.

The Commission hopes that many Americans will be interested to read . . .

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