Word: consumerized
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He is eager to argue with those who believe that civil consumption can be cut down by allowing prices to rise as they naturally would. He points out that in copper, steel and other basic materials, price increases would not draw out really significant new capacity; he notes that in...
No less drastic than this liquidation of the profit motive is the Treasury's direct attack on consumer buying. This is the first tax proposal in U.S. history deliberately planned to cut consumption hard.
Under the new proposals, the middle and upper classes would have less money to spend next year, would be in no position to help bid prices up. Lower-class purchasing power would be curbed, though in lesser degree, by the new consumption taxes. In effect, all this adds up to...
As a sharp tack away from the business-as-usual guns-and-butter theory on which the U.S. began its defense effort-these two developments were the biggest news since the defense program began. The calm with which Detroit took them was news worthy too as a sign of a...
Implicit also in Knudsen's announcement was a hint that other industries may soon follow automobiles into the quota lists. Already OPM has its eye on refrigerator trays (aluminum), other consumer goods which use material that defense manufacturers are finding hard to get. In 1918 the War Industries Board...