THE real test of U.S. industry in the 1 next decade might not be whether it survives a depression. It might be whether it will be ready if global war breaks out.
In an effort to prepare, industry has gone through a bewildering series of speedups and stretch-outs, conversions and reconversions, mobilizations and demobilizations, shortfalls and slippages. When the Republicans came to power and started to take a new look at defense, confusion was compounded by the fear that they were about to change everything that had gone before, and substitute a narrower...
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