Word: nomics
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American White Paper tells how U. S. policy-makers long foresaw World War II, pondered in advance each complex consequence. At best (Allied victory) the quadrumvirate foresaw worldwide eco nomic chaos; at worst (German victory) the U. S. would be, in Phrasemaker Berle's words, "in the unfortunate position of an old-fashioned general store in a town full of hard-bitten chains...
...economy of welfare-in which, as in the richer democracies, a variety of goods is produced for universal consumption and the productive machinery is merely tapped, not regimented, for the use or revenue of the State-for an economy of warfare, Germany has developed out of her eco-nomic past a new and unique type of economy. The Italians have to a lesser extent followed the same method and the eagerly imitative Japanese have copied Nazi procedure since their Chinese adventure...
...rearmament policy liked by 63.6%, disliked by 13.2%; 3) F. D. R. as President, approved of "in general" by 54.8%, disapproved of by 33.9%; 4) his international policy, liked by 50%, disliked by 15%; 5) his wages-&-hours legislation, liked by 48.8%, disliked by 21.8%; 6) his eco-nomic objectives, liked by 48.1%, disliked by 29.1%; 7) his attitude toward unions, liked by 38.3%, disliked by 30.4%; 8) his attitude toward business, liked by 37.3%; disliked by 34%; 9) his attitude toward TVA, liked by 26.8%, disliked...
That prices too high should be lowered and prices too low should be raised was not by itself a highly enlightening eco nomic doctrine. But as a political announcement it had force, for it laid at rest conjectures that the Administration was specifically bent on inflation. Professor Roosevelt picked up a slim wooden pointer and, leaning back in his chair, proceeded to elucidate his meaning with nine separate graphs on specific prices...
...Byrnes. Said he: "It is not the purpose of this committee to endeavor to show that either labor or capital deliberately brought about the present recession in business." As evidence of good intentions, Jimmy Byrnes pointed out that his committee had been appointed six months ago, before eco-nomic astrologers foresaw a major eclipse of prosperity...