INFLATION: The Battle Is Not the Pay-off

The three-year-old Washington war over price and wage ceilings went into a new battle phase. The new battle cry: "Get your cut now, boys." Some feared that the Administration had become completely incapable of handling the major economic problem of war. On the other side, some Administration prophets saw ruin ahead, brought on by the greed of selfish pressure groups.

Was the U.S. so weak that it could not win its major fight at home?

Teapot Tempest. The immediate sector was the renewed fight over subsidies—an issue more boring to the average citizen than...

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