Business: The Big Change

The nation's expansion altered the face of the land so fast that anyone who had been away for as long as ten years would scarcely recognize his home town. Unlike the Government-financed expansion of World War II, virtually all new plants were paid for by private industry, with no other incentive than the right to write off most of the cost in five years instead of the usual 20. And though the arms program was responsible for the start of many of the plants, most of them, e.g., the great new steel, aluminum...