In reply to ALL CAPITAL TYPOGRAPHY:
That’s the cover of a book which reproduces ads from the 1960s at 100%, so it would be around 8½" x 11".
The kerning is in proportion to the size of type.
It was published in 1984, just about the end of the Tight-But-Not-Touching era.
During the 1960s, American ad copy was written in a (feigned) friendly, second person singular, conversational style.
Headlines were set as if they were blow-ups of body text, to continue that casual, informal theme.
So: paragraph indent, flush left, upper and lower case, like this from 1965:
Image may be NSFW.
Clik here to view.
Clik here to view.

The asymmetric shapes made by the text blocks are positioned dynamically in the layout, balanced against negative space, in the high modernist manner, creating a flat “abstract” graphic on the surface of the page.
In comparison, all cap headlines are bossy and authoritative.
Easier to create a superficially neat effect, but lacking the sophistication of the ’60s.