Expert Insights

THE accompanying story was prepared with the help of TIME's Board of Economists, who met with the editorial staff for a day-long appraisal of the U.S. economy. Members of the board, which meets four times a year, spoke as individuals and not as representatives of the institutions with which they are associated. Present were:

David L. Grove, vice president and chief economist, IBM.

Walter W. Heller, professor at the University of Minnesota, former chairman of the President's Council of Economic Advisers.

Arthur M. Okun, a senior fellow of the Brookings Institution, former chairman of the CEA.

Joseph A. Pechman, director of economic research at the Brookings Institution.

Beryl W. Sprinkel, senior vice president and economist, Harris Trust and Savings Bank, Chicago.

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