Word: bedrock
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Dates: during 1940-1949
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...problem was: What is bedrock? How deep can the civilian economy be cut without damaging war production? WPB has estimated that some $56 billion of goods and services (almost 50% under last year's consumer goods boom) is the least that the U.S. needs. But no estimate of a bedrock economy (even assuming that it could be accurate in the first place) is static: in a long war, as goods wear out, one year's bedrock can turn into the next year's breakdown, as need for replacements and repairs mounts...
...greater war production. The you-can't-do-that-to-me school kept the U.S. wasting precious materials much too long, delayed realistic decisions on how lean the U.S. economy could become. But the you-must-suffer school did equal damage by ignoring the obvious fact that a bedrock economy for the U.S. must be based upon the U.S. standard of living, the highest -and most mechanized - in the world...
Unfortunately the shame-criers won the fight just when the wolf-criers finally be gan to be right. Most notable example of cutting below bedrock: farm equipment, where a WPB order cutting production to 20% of 1940 coincided with a draft and wage policy that drained workers off the farm and a farm-production policy that called for astronomical quantities of food. This manifest absurdity received only piecemeal attention until the U.S. food situation had assumed near-crisis proportions...
...estimates transmitted herewith give the requirements of the bedrock standard of living...
...dynamic man in a dynamic industry-Lawrence Dale Bell, 48, founder, inspiration and chief owner of Buffalo's fabulous Bell Aircraft Corp. Just as the Army had three big reasons for building the new plant in Georgia (power, labor supply and airport facilities), so did they have bedrock reasons for choosing Larry Bell...