THIS study was undertaken to develop recommendations for a postwar tax system patterned genuinely in the public interest. The objective was not a blueprint for temporary transition policy but rather the specifications for a permanent tax structure toward which we should be working. While the book does illuminate transition issues, its main value lies in its contribution to perspective and understanding regarding long- run problems.
Fiscal-monetary policy is not considered extensively here. This subject will be dealt with in a forthcoming C.E.D. report, Jobs and Markets in the Transition, and in a later volume. addressed to long-run fiscal problems.
As a companion piece to Groves' report, the reader will be interested in the policy statement by the Research Committee, A Postwar Federal Tax Plan for High Employment. This statement, based on a preliminary study by Professor Groves of the relationship of taxation to incentives and to employment, as well as other materials, parallels closely Groves' conclusions in this final study.
THEODORE 0. YNTEMA,