Word: plans
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Dates: during 1930-1939
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While France's Paul Reynaud and Britain's Sir John Simon put their heads together to strengthen the external economy of the Allies (see above), one of Britain's leading economists advanced a notable plan to strengthen Britain's internal economy, to help pay for the war while it is being fought, to help smooth the economic bumps which must be felt when it is over. Author was "The Stinger in the Triple Bromide"-Economist John Maynard Keynes, who, as a member of the Economic Advisory Council and secretary of the Royal Economic Society, frequently stimulates...
High war prices, caused by money being a lot more plentiful than goods, are already beginning to worry Great Britain. Economist Keynes's plan had a particular appeal as a price-keeper-downer since it would lock up money that would otherwise be spent. To keep down the price of consumer goods, to temper the war inflation for those who do not enjoy its upward effect on wages and speculative profits, Mr. Keynes proposed a double levy on all incomes, one part to consist of tax, the other of low-interest (2½%) loan to the Government...
London's "City" viewed this Keynes Plan askance as "totalitarianism." The Times feared it would decrease production of consumer goods at a time when unemployment is still high, but said the plan "deserves the most serious examination." To Tommy in the trenches, it sounded fine...
Alive and well today are thousands of young Europeans who would likely have been corpses by now if War II had taken the course of unprecedentedly murderous War I. Meantime, one big plan for Peace II has been shaping up in Anglo-French minds on an unprecedentedly thoughtful and humane pattern. Last week there were signs that the Nazi Government had begun to realize and fear the extent to which millions of Europeans are turning to the Allied formula of ending the war not in victory & defeat but by setting up a more-abundant-life European federation into which...
...necessity of European nations fighting each other twice in a century to establish 'European equilibrium'.... England proposes a European Commonwealth for the future. She had had ample time since the last war to establish it. Now it will be Germany's turn to look after this plan...