1950's Business and the Economy | "Over the Top"

Magazine article

By: Time

Date: December 6, 1954

Source: "Over the Top." Time, December 6, 1954, 102–103.

About the Publication: Time was founded in April 1923 by Henry R. Luce and Briton Hadden. By 1927, it was selling over 175,000 copies every week. The magazine's conservative tone originally matched that of its owner, and as a result, it was favorable toward the Republican Party. Over three thousand weekly issues later, however, it has become more liberal. Currently, it boasts a weekly circulation of 4 million in the United States and 1.4 million internationally.

Introduction

During the economic heyday of the 1920s, the American stock market reached its peak on September 3, 1929, when the Dow Jones Industrial Average (DJIA) closed at 381.17 points, its highest level yet. At that time, this number—an average of certain leading stocks on...