By Peter Gee.

LAST November TIME introduced its Board of Economists--eight eminent experts who would meet regularly with the editors to discuss and analyze the issues of the day. We believe that the resultant exchange has already served to deepen our understanding of the vastly complex economy. A major concern of the latest meeting was economic growth, its benefits and its harmful effects. The economists' views were reflected in last week's BUSINESS section. This week, again with the help of TIME's economists, we examine the nation's current economic posture. The term "recession" loomed large in the conversation, but did that somewhat ominous word really describe the situation? Was the U.S. actually experiencing a "decline," a "downswing" or merely a"pause"?

The shadings were enough to muddle a stenotypist's ear, and in fact did just that. Dr. Walter Heller's remark at one point that "consumer satiety rears its ugly head" was transcribed as "consumer satanity." Dr. Heller was subsequently asked to define this interesting new economic concept. "The tendency of the consumer to be perverse--he sometimes thwarts us by refusing to react to certain things in the way we want him to," Heller quickly replied. Still, Heller maintains, there is basically no such thing as consumer satiation.

"So maybe the consumer's appetite is satanic in growth."

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TIME's readers respond to each issue in many ways: they write letters to the editor, ask for further information, and increasingly request permission to reprint TIME stories. Not every request is granted; we do not, for example, permit the use of TIME editorial material for commercial purposes. Nor do we reprint on a regular, week-to-week basis, but rather when readers demonstrate unusual interest in particular stories.

Although requests are sparked by many different sections, one of the greatest catalysts is the Essay. "On Being an American Parent" (Dec. 15, 1967) drew requests for 5,000 reprints from church and P.T.A. groups. The Alumni Association of Columbia College alone asked for 25,000 reprints of "Why Those Students Are Protesting" (May 3, 1968). "What Can I Do?" (May 17, 1968), on the problem of civil rights, drew requests for 35,000 copies. Our cover story on "Drugs and the Young" (Sept. 26, 1969) has so far brought requests for 3,000 copies. But perhaps our most unusual recent request came from the World Wildlife Fund. The fund wanted permission to reprint in ads across the U.S. a letter from its international president--Prince Bernhard of The Netherlands--that we had published shortly after the Feb. 2 cover story on Ecologist Barry Commoner. In his letter, the prince took us gently to task for not drawing attention to the role of private institutions in the fight to save the environment and their need for public financial support. Still, the U.S. branch of the fund is currently negotiating for upwards of 50,000 reprints of the story.

The Cover: Graphic design by Peter Gee.

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