BANKING, HOUSING AND URBAN AFFAIRS
UNITED STATES SENATE

NINETY-FOURTH CONGRESS

SECOND SESSION

ON

S. 50

TO ESTABLISH A NATIONAL POLICY AND NATIONWIDE
MACHINERY FOR GUARANTEEING TO ALL ADULT AMERICANS
ABLE AND WILLING TO WORK THE AVAILABILITY OF EQUAL
OPPORTUNITIES FOR USEFUL AND REWARDING EMPLOY-
MENT

COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS

WILLIAM PROXMIRE, Wisconsin, Chairman

82076

BA 14 / 11/9/1

KF26
B39
1976a4

CONTENTS

S. 50, as revised by proposed substitute amendment, text, summary, and

section-by-section analysis (reprint of committee print of Senate Labor Page

and Public Welfare Committee).

LIST OF WITNESSES

THURSDAY, MAY 20

Alan Greenspan, Chairman, Council of Economic Advisers..

J. Charles Partee, Governor, Federal Reserve Board--

Alice M. Rivlin, Director, Congressional Budget Office; accompanied by

Frank DeLeeuw..

5

J. Kenneth Galbraith, Emeritus, Harvard University.

FRIDAY, MAY 21

Sar A. Levitan, George Washington University..

Melville J. Ulmer, University of Maryland..

William R. Allen, University of California, Los Angeles.......

TUESDAY, MAY 25

Hubert H. Humphrey, U.S. Senator from the State of Minnesota-

Augustus Hawkins, Representative in Congress from the State of

California__

Rudolph Oswald, Acting Director of Research, AFL-CIO; accompanied by

Henry B. Schechter, Department of Housing and Urban Affairs,

AFL-CIO__

Carl N. Madden, Chamber of Commerce of the United States of America;

accompanied by Richard S. Landry, Staff Executive, Banking and

Monetary-Fiscal Policy Committee_

84

91

97

102

130

142

203

Leon H. Keyserling--.

213

226

ADDITIONAL STATEMENTS AND DATA

Alliance for Neighborhood Government Action Council, statement of

Conrad Weiler_

368

American Jewish Congress, statement received for the record-

Catholic Bishops of the United States, statement on The Economy: Human

Dimensions__.

351

146

Center for Social Action of the United Church of Christ, statement of

Paul Kittlaus _ _.

354

Challenge Magazine, text of interview with Senator Humphrey titled "Do

Economists Discover Economic Laws or Are They Passed by Congress?"_

Chicago Tribune, reprint of article titled "Inflation and Humphrey-

Hawkins bill".

Commission on Social Action of Reformed Judaism, statement of Dr.

Helen Ginsberg-

Congressional Budget Office:

178

306

354

Letter from Alice M. Rivlin, Director, with data on unemployment

rates__

65

Study titled "An Economic Analysis of the Full Employment and

Balanced Growth Act of 1976".

158

Economic Report of the President for January 1961, excerpts from---

International Union of Electrical, Radio, and Machine Workers, statement

of David J. Fitzmaurice, president__