Abstract

After Rearmament, What?

The article focuses on the economic future of the U.S. in the years to come after the 2nd World War. The American public had little chance during the campaign to orient itself in the formidable economic problems that will confront the nation during the next few years. When the United States entered the war, its economy had recovered only incompletely from the great depression. At no time in the thirties was prosperity actually restored or large-scale unemployment eliminated. Not until all-out mobilization in 1942-43 did the tremendous expansion of government military procurement took speed. Capacity output and full employment naturally brought a momentous increase in the nation's money income. A large part of these swollen earnings were siphoned off by higher taxes.