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1959 steel strike aggregate demand backlogs of orders backlogs of unfilled business cycle business expansions capacity ceiling capacity utilization change in unfilled CHANGES IN MANUFACTURERS changing supply conditions CLAIBORNE PELL conditions of supply cyclical expansions decline deteriorating supply conditions deterioration of supply durables sector economic growth Economic Stabilization economist empirical record Energy Resources Fortune magazine Franco Modigliani increasing underutilization inventory accumulation INVENTORY FLUCTUATIONS inventory investment inventory objectives JOHN MARSHALL BUTLER Joint Economic Committee leadtime lengthening delivery periods markets for durable materials and components Murray Weidenbaum order backlogs output panel of chart Paul G percentage of total postwar period pressures for price price change PRICE LEVEL CHANGES production to order productive capacity Prof purchase orders purchased materials quarterly changes quoted delivery periods rate of economic rate of utilization recession troughs stocks supply deterioration tend total inventories troughs in 1949 U.S. economy underutilization of capacity United Auto Workers WILLIAM PROXMIRE Wright Patman