Constituting an update to a previous publication that interpreted the directions of United States manpower policy subsequent to World War II, this publication places the previous essay in the historical context of manpower policies that reach back to the Great Depression of the 1930's and the Employment Act of 1946; and to policy options now before the nation for coping with an unprecedented deep and nagging recession with the accompany inflation. The result is an overview of four decades of manpower policy in terms of the issues to which the policy has been addressed. Seven chapters focus on the following areas: the origins of Federal manpower policies; a new manpower policy; Federal Government responsibility; equal opportunity and the War on Poverty; two appraisals of the Johnson years; the Nixon administration; a comprehensive manpower revenue-sharing program; and, massive unemployment: a new manpower challenge. A table providing statistics on enrollment opportunities, first-time enrollments, and Federal obligations for work and training programs administered by the Department of Labor by program for fiscal years 1963-1974 is provided in the appendix. (Author/AM)