The cover of this issue, symbolizing American Renewal, heralds both a special section of TIME stories on the subject, 25 pages in all, and our participation in an unprecedented joint venture in journalism. For the first time since the company was founded nearly 60 years ago, all Time Inc. magazines--TIME, FORTUNE, LIFE, SPORTS ILLUSTRATED, MONEY, PEOPLE, DISCOVER--are addressing a common theme.

American Renewal examines what can be done to restore confidence in ourselves and our future. As Editor in Chief Henry A. Grunwald writes in his introduction: "Our chief purpose is to dispel the notion that nothing can be done."

It was eight months ago that Grunwald first met with Time Inc.'s managing editors to discuss the mood of weakness and self-doubt taking hold of American life. Recalls Grunwald:

"The country had faced crises before, but it was hard to find a moment since World War II when so many different ones came together at the same time. It was our view that a reversal of American fortunes was certainly possible, and that journalism had a responsibility to play a part." The result is an editorial endeavor that will total more than 160 pages in Time Inc.'s magazines.

National Editor John Elson, who edited last year's special issue on the Soviet Union, was in charge of TIME'S American Renewal effort. Says he: "TIME has always tried to interpret the news as well as report it. This week we are going one step further--we are offering some possible solutions to the difficulties the nation faces." For his story on U.S. political institutions, Senior Writer Otto Friedrich returned to many of the themes explored in TIME'S 1976 Bicentennial issue, which he edited. "Defining the changing role and the ultimate power of the Congress is just as important today as it was 200 years ago," says Friedrich. Diplomatic Correspondent Strobe Talbott analyzed American foreign policy and defense, and Senior Writer Lance Morrow wrote about the duties of citizenship. Morrow is obviously serious--if somewhat literal minded--about American Renewal. He and his wife Brooke are expecting their second child on the Fourth of July.

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