THE wording of Section 2 of Employment Act of I946 -its declaration of policy -is notoriously vague. There is, even today, widespread disagreement as to whether or not it is really a law or even what courses of action a full employment policy would entail for government or require from business community. The negotiated language of act suggests both ends and means that are breath-taking in their implications and also includes artfully contrived restrictions that might be so construed in practice as to paralyze action. It thus devolved upon President, his executive heads, and his economic advisers to interpret new law so as to vitalize it or perchance sterilize it and upon Joint Economic Committee of and two Houses to review executive interpretation and to implement or perchance to correct or frustrate it. We are now ending tenth year of this interpretative experience, and it would seem timely to look back over developments of these years to see what light they throw on question what goals of employment are in fact coming to expression or acceptance as a feature -perhaps a preponderant feature -of our national economic life. Prefatory to such an analysis it will be helpful to consider some concepts of employment problem and beliefs as to what should be expected by way of its solution which were entertained in business and academic circles where problem was considered in years just preceding passage of Employment Act. That review will shed considerable light on what was the intent of Congress as it reflected Congressional reading of will of people.