MANUFACTURING: Victims of Defense

Last week, as the May Federal Reserve production index hit a new all-time high (see chart), a young OPMite named Peter R. Nehemkis Jr.* predicted that one-third of U.S. industry might be soon shut down for lack of business. Because of defense priorities, he said, ten industries are already facing eclipse. Chief victims, moreover, would be little businessmen. "It is one of the profound ironies of our defense effort that its total effect may well be to obliterate smaller enterprises. . . ."

Nehemkis did not name his ten doomed industries. But...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!