Word: consumerization
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Cartoonists, editorial writers and finger-wagging officials were putting all the blame on the consumer for his rush to stockpile what he thought to be scarce. But much of the scare buying and hoarding was really the work of manufacturers, suppliers and retailers.
The Needs. To begin the job, the President asked Congress to: ¶ Remove all ceilings on the size of the armed forces, now set by law at 2,006,000 men. (He had, he said, already told Defense Secretary Louis Johnson to call up all the men he needed-from...
This pressure put a new kind of strain on an economy which, even before the Korean war began, had spurted to a peacetime high. In June, the Federal Reserve Board reported last week, the index of industrial production had pushed to 197, two points above the November 1948 peak. The...
"Business as Usual." The draft was the Administration's most militant action, but there were others. In quiet fashion, almost stealthily, a creeping mobilization of crucial industries began (see BUSINESS). Said an official of the National Security Resources Board: "We are taking our cue from the President, who has...
If the Korean war would cause heavier defense spending-and there seemed little doubt that it would-the big question was: How much more spending could an uncontrolled economy stand without serious inflation? There was now little overall slack in the economy. The Federal Reserve Board's index of...