Word: consumerized
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But the managers who are not yet managing are likewise not solely responsible. Each U.S. citizen, as consumer, wage earner, factory worker, housewife or as a silent contributor to morale, faces the same responsibilities. Today, the U.S. consumer has more buying power than he ever had before in his history...
But what happens when the consumer, with his increased buying power, begins to bid up the prices of goods for which the supply remains steady, or diminishes? For vital war materials the Government steps in, sets the price, allots the material -theoretically at least-to where it is most needed...
One of the 17 articles in this issue of FORTUNE is an essay on price fixing by Marriner S. Eccles. Says Eccles: "Instead of discouraging savings we need now to encourage them. Instead of encouraging consumer expenditures, we need to apply curbs on private spending whenever it threatens to encroach...
> To see that the consumer has enough and yet not bring about the inflation that makes certain he will not have enough
Everybody in Washington expected some inflation last week. To try to freeze and police all U.S. prices now would be a task for a Gestapo, which Washington neither wants nor has the time to put together. Even Leon Henderson, given all the power he wants, expected to be little more...