Army & Navy procurement officers, not wanting to take the zip out of production, are almost as opposed to a statutory limit on war profits as businessmen are. Businessmen, not wanting to be unpopular or unpatriotic, are almost as eager to avoid excessive war profits as Congressmen are. So last week, while Congressmen reconsidered a bill to limit all war-contract profits to 10% or less, the Army & Navy quietly perfected a technique of profit control that businessmen could understand.
The Army & Navy way is to set up Price Adjustment boards, which keep...
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