The Economy: The War Pinch

The Viet Nam war has not yet caused any critical squeeze on the U.S. economy—but inevitably and inexorably it is beginning to pinch in a lot of places. Partly because of military orders, delivery times have lengthened on a range of civilian goods from roller bearings to high-alloy steel. Prices have shot up for several commodities, from sulphur to shoe leather. Although reluctant to pre-empt civilian demand, the Pentagon has been forced to declare military priorities on such varied products as clothing, glass, copper wire and electronic gear; priority purchasing has...

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