The essays in this volume consider the nature of the war economy and the possibilities for change that the relaxation of the Cold War presents. They ask what the effects of a security policy of substantial disarmament on the economy and political climate of the USA might be.

Examines the claim that deindustrialization in the US is causing a decline in its competitiveness, especially in view of competition from Germany and Japan. Discusses the relationship between productivity growth in individual industries and the tendency for aggregate productivity levels to converge among OECD countries, and identifies the sources of productivity growth. Looks at the relationship between international trade and productivity convergence in OECD countries and whether the same mechanics of convergence are apparent in developing countries.

117th edition. Provides tables and graphs of statistics on the social, political, and economic conditions of the United States. Each section has an introductory text. Each table and graph has a source note. Appendix 1 includes guides to sources of statistics, State statistical abstracts, and foreign statistical abstracts.