GOVERNMENT: Boom & Bust?

During the next four years, U.S. business will enjoy profits twice as great as in 1940. But in 1950, unless drastic steps are taken by Congress, the U.S. will have nearly 8,000,000 unemployed and will stand on the brink of a deep depression. So said Commerce Secretary Henry Agard Wallace, before a closed session of the House Appropriations Subcommittee over a month ago.

Last week Wallace's testimony (made to support a plea for more cash for Commerce) was released. Secretary Wallace based his analysis on a set of mysterious charts which were shown briefly to the committee, then tucked away so...

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