PRICES: Big Stick

If we are to keep this a New Deal war, we have got to keep prices from skyrocketing the way they did in the last war.

Well over a year has passed since the President laid down that basic principle to the inner circle of his advisers. Those months have seen the birth and death of the National Defense Advisory Commission, set up in May 1940 with an eye as much to keeping prices down as to getting armament up. They have seen the rise and eclipse of OPM, set up to still...

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