Abstract

Boom, Bust, War
Stone, I. F. | January 24, 1948 issue

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The Economic Report of the U.S. President indicates that the U.S. is moving inexorably from boom to bust; the report of his Air Policy Commission indicates that the U.S. are moving fantastically toward war. In the Economic Report those cautious but clear-sighted members of the Council of Economic Advisers, have done a first-rate job. However, for business the post-war inflation was proving more profitable than the war had been. The most profitable war year was 1943. Profits before taxes in 1947 were $3,500,000,000 higher than in 1943, while corporate taxes were $3,100,000,000 lower.

See Also:

ECONOMIC policy; FINANCE -- United States; UNITED States -- Politics & government; GOVERNMENT policy; POLITICS, Practical; UNITED States
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