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PART ONE: A New Policy Issue 3

WALTER LIPPMANN and FRANCIS M，BATOR·America Must Grow 3

ROCKEFELLER REPORT Projections of Federal, State and Local Government Expenditures in 1967 14

HERBERT STEIN and EDWARD F DENISON Economic Growth as a National Goal 15

W. ALLEN WALLIS United States Growth: What, Why, How 25

PAUL A.SAMUELSON Public Responsibility for Growth and Stability 38

PART Two: Outlook for the “Economic Race” 43

ABRAHAM S.BECKER Comparisons of United States and USSR National Output: Some Rules of the Game 43

THE COMMUNIST PARTY OF THE USSR The Soviet Twenty-year Program 57

THE COUNCIL OF ECONOMIC ADVISERS·The U.S.Target in the CUrrent Decade 62

DEBORAH C.PAIGE ET AL Economic Growth: The Last Hundred Years 69

PART THREE: How to Grow—Three Kinds of Investment 88

JAMES TOBIN Growth Through Taxation 88

EDMUND S.PHELPS Tangible Investment as an Instrument of Growth 94

THEODORE W.SCHULTZ Investment in Human Capital 106

GARY S.BECKER Underinvestment in College Education？ 121

BENTON F.MASSELL and RICHARD R. NELSON Research and Economic Growth: The Role of Public Policy 129

FRITZ MACHLUP Can There Be Too Much Research？ 141

THE COUNCIL OF ECONOMIC ADVISERS Policies for Eco-nomic Growth 153

Suggested Further Readings 175