Word: lippmann
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...FOREIGN POLICY: SHIELD OF THE REPUBLIC - Walter Lippmann - Little, Brown...
...statesman who means to maintain peace (and yet not play power politics) "must with cold calculation organize and regulate the politics of power." This is no quotation from Goebbels but from Walter Lippmann.* In U.S. Foreign Policy, Mr. Lippmann devotes 177 pages to a lucid discussion of what has been right and what is now wrong in the U.S. notions of its place in the world...
Phony Policy. As Pundit Walter Lippmann pointed out last week, for two years the Administration has pursued a phony price policy because it seemed easier. When huge economic incentives are being paid-as they have to be-to make war production vast, a rigid ceiling on civilian goods prices is undesirable: it creates inflation by making goods more valuable than dollars, and it minimizes the production of consumer goods. Rationing and price control were sold to the public as anti-inflation measures, whereas they are actually social measures...
...philosophy (which was finally put into effect in March 1942) assumed that inflation can be stopped just by proclaiming that all prices are frozen as of a given date. But, as Columnist Walter Lippmann argued last week, the idea that a general price freeze will be effective is pure illusion...
...converting an economy from peace to war, some prices and wages must move if men and machines are to find their proper uses. (To try to run the U.S. economy with a completely frozen price system, Mr. Lippmann pointed out, is like trying to run a car without a steering gear...