The 1971 Report of the President's Advisers: Micro-Economic Aspects of Public Policy.

This article presents the micro-economic aspects of public policy indicated in the 1971 Report of the President's Council of Economic Advisers in the U.S. The micro-economic section of the Council Report attempts to explore selected program and policy issues that will require new thinking if the economic system is to make its maximum contribution to national well-being. Most of the analysis is devoted to two topics: safeguarding the environment and transportation. The Council concluded its analysis of transportation by stating that a deregulated transportation industry would better serve the public interest than do the current regulations.