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Arguably the greatest self-inflicted catastrophe in human history, the Second World War resulted in an estimated 60 million dead. Unprepared when the war began, the United States quickly gathered momentum to become the decisive economic power, with an unprecedented ability to project that power through the Atlantic, the Pacific, the Mediterranean, and elsewhere. While in the European theater the Soviet Union emerged as the preeminent killing power among the Allies, the United States demonstrated logistical brilliance, firepower, mobility, mechanical aptitude, and an economic preponderance that produced much more than the Axis powers, all while committing a smaller proportion of the country's gross domestic product to the war than any other major belligerent. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editor discusses articles in the issue on topics including supply of mineral resources, economic aspects of World War II and oil price crisis of 1970s.

In the mid‐twentieth century a number of central banks around the western world lost their operational autonomy and were placed under government control. The origin of these policy changes can be traced to the intellectual and political developments of the interwar era in addition to the introduction of the Bretton Woods monetary system. The Norwegian central bank offers a particularly stark example of this phenomenon: experiencing a rapid decline from its high level of autonomy in the interwar years, to a clear subordination to the government after 1945. Through an analysis of the correspondence between the main policy makers in the exiled Norwegian government and central bank management, this article contributes to the understanding of central bank autonomy by tracing the decisive factors that led to the Norwegian central bank's loss of agency. [ABSTRACT FROM AUTHOR]

The article reports the author's opinions regarding the consumption in the U.S. She focuses on patterns of consumer behavior that emerged in the U.S. during and after the 1920s. The author discusses how events such as the Cold War and World War II affected consumption in America. The author's book "A Consumers' Republic: The Politics of Mass Consumption in Postwar America," is also discussed.

A core value throughout much of American history, frugality received official sanction during World War II when the U.S. government, to mobilize the home front, launched poster campaigns that preached being thrifty with goods and services, recycling metals and other materials, growing and storing food at home, obeying price and ration controls, and buying war bonds. This paper examines the consumption context, implementation, creative execution, and impact of government-sponsored poster advertising during this important turning point in the history of American consumer culture. The final section considers the significance of these campaigns in consumption and poster history, as well as some implications for reinspiring frugal values and behaviors. [ABSTRACT FROM AUTHOR]

Over the past four decades, government debt as a fraction of GDP has been on an upward trajectory in advanced economies, approaching levels not reached since World War II. While normative macroeconomic theories can explain the increase in the level of debt in certain periods as a response to macroeconomic shocks, they cannot explain the broadbased long-run trend in debt accumulation. In contrast, political economy theories can explain the long-run trend as resulting from an aging population, rising political polarization, and rising electoral uncertainty across advanced economies. These theories emphasize the time-inconsistency in government policymaking, and thus the need for fiscal rules that restrict policymakers. Fiscal rules trade off commitment to not overspend and flexibility to react to shocks. This tradeoff guides design features of optimal rules, such as information dependence, enforcement, cross-country coordination, escape clauses, and instrument versus target criteria. [ABSTRACT FROM AUTHOR]

T his article examines the political economy of nutrition as a state-sponsored strategy to extract greater productivity from industrial workers in both wartime and peacetime. During World War II, the state, together with its munitions-industry allies, broadly considered workers' nutritional health as a critical component to achieving maximum wartime industrial production. Following the war, both the state and industry imagined the nutritional health of workers' bodies as crucial to Canada's postwar prosperity. Facilitating as well as frustrating these largely state-directed nutrition agendas was a combination of medico-scientific knowledge, the sometimes uncertain and unpredictable participation of both employers and workers, and wider national and international historical contexts. C et article examine l'économie politique de la nutrition en tant que stratégie parrainée par l'État pour accroître la productivité des travailleurs industriels, en temps de guerre comme en temps de paix. Au cours de la Seconde Guerre mondiale, l'État et ses alliés de l'industrie des munitions ont largement considéré la santé nutritionnelle des travailleurs comme un élément essentiel pour parvenir à une production industrielle maximale en temps de guerre. Après la guerre, l'État et l'industrie ont tous deux estimé que la santé nutritionnelle des corps des travailleurs était essentielle à la prospérité du Canada d'après-guerre. Faciliter mais aussi frustrer ces programmes nutritionnels largement dirigés par les États était une combinaison des connaissances médicales et scientifiques, une participation parfois incertaine et imprévisible des employeurs et des travailleurs, et des contextes historiques nationaux et internationaux plus vastes. [ABSTRACT FROM AUTHOR]

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The article discusses the discipline of the balance of payments in Western Europe. The article's first section attempts to demonstrate that, in most of Western Europe, the normal balance-of-payments discipline operated against chronic external deficits, which was in fact operative only to a limited extent during the first half-dozen years after World War II. The second section of the article focuses on the operation of the discipline against chronic external deficits throughout the late 1950s and early 1960s. In the third section the question of balance-of-payments discipline in situations of chronic external surplus is considered, with a particular focus on Germany.

The article presents an exploration into the financial conditions of the housing market in Great Britain throughout the first half of the 20th century. The parallels between the housing crisis being addressed in the 1950s and that of the post-World War I era are outlined, with additional data examining the interim period between the wars. An overview of statistical data is provided for housing materials and labor costs through the various time frames. Additional mention is given to the market forces which led to recovery, including private enterprise growth, local authority housing contracts, and other government subsidies.

A transition in international trade has taken place in recent years. The economies of many Western European nations and Japan have been revitalized, due largely to American aid in the immediate postwar period; and these same nations now are energetically competing for markets with U.S.-made goods. The author examines the balance-of-payments problem faced by the United States; the role that increased exports can play in helping to solve these difficulties; and the joint business and government efforts being made by the National Export Expansion Committee of the Department of Commerce and its regional committees. [ABSTRACT FROM AUTHOR]

The article presents information about the volume and significance of mercantile credit in the United States. A discussion is presented about the decline in mercantile credit outstandings between 1929-1932 during a period of falling prices, declining industrial production, acute agricultural distress, and an unprecedented number of bank failures and mercantile bankruptcies. The subsequent rise in credit outstandings at the outbreak of World War II is described. Details related to the economic aspects of mercantile credit are presented.

The article discusses marketing in Great Britain in the late 1940's. The author begins by explaining some of the differences between the market structure in the United States and Great Britain. Much of the power industries have been taken over by the government and those that have not are indirectly controlled by it, through allocation of resources and consumer rationing. The diminished infrastructure in Great Britain is also a limiting factor in export trade, where the United States was untouched after the war. Three major features are the heart of British marketing, the right to buy, inflationary tendencies, and discrimination by buyers. An increase in output of factories has resulted in a relaxing of rationing by the government and export sales have become more of a focus.

The article discusses a study of students' reactions to different types of food stores. At the time of publication the economy is shifting from wartime to peace time. According to the author, during the war, retail stores were more concerned with obtaining goods and personnel than with what consumers thought of them. The author notes that with the shift to peace time, the food market is shifting from a sellers' to a buyers' market. This article examines consumers' preferences of food stores, from types including supermarkets, chain stores and independent retailers.

The article discusses innovations in supermarket operations at the time of publication. The author notes a number of revolutions made by the supermarket industry, including the self-service meat and delicatessen departments and the expansion of supermarkets into the sale of wine, liquor, cosmetics and other household products. According to the author, many developments in the industry came as a result of economic pressures exerted by World War II. Due to shortages in labor and merchandise, along with rationing and price control, supermarkets were forced to add other departments to keep overhead costs low.

The article discusses the origins, methods and operations of cooperative societies in Great Britain. According to the author, retail societies do away with the private profit motive from retail sales, while wholesale societies remove the same motive from production and wholesale transactions. The author notes that the British cooperative movement is closely tied to the country's labor movement. Also noted is the author's belief that the end of World War II will bring about a revival of cooperation in Europe.

The article discusses forecasting the demand for United States Army supplies during times of war. According to the author, in 1942 there was no consumption data in terms of the amount of supplies used in a certain amount of time by a certain number of soldiers. The author notes the Army's use of field research, having a sample number of soldiers fill out questionnaires to determine their consumption of Army issued supplies. Also noted are research findings on the amounts of replacement supplies used during World War II.

The article discusses forecasted opportunities in marketing and advertising in the United States in the years following World War II. The author notes that the level of the country's postwar economy will depend partly on the ability of those in the marketing and advertising professions to increase consumer demand for goods and services. Projections are given for the national income required to obtain prewar levels of prosperity. Also noted is the need for job creation following the end of the war.

The article discusses the voluntary systems of equitable distribution in place of rationing for dealing with scarcity during World War II. Equitable distribution ensures that scarce supply is distributed fairly among consumers substantially according to individual needs or among geographical areas according to need. Both of these have an implied idea that goods should be distributed fairly to merchants who are accustomed to handling such goods. Many business enterprises implemented this system voluntarily at the onset of the war using two methods of allotment: those using past purchase records and those using formulas created by the salesman. The advantages and disadvantages of these methods are discussed including errors in mathematical and biases in distribution.

The article presents a post World War II forecast for the U.S. consumer goods market. It is estimated that food sales will be 14 to 44% higher than they were in the period preceding the War. The U.S. Department of Commerce estimates that housing expenditures will rise by 46%. Personal care expenses are expected to rise by over 60%. A table outlining the percentage increase of projected postwar consumption is presented. The figures were calculated by the U.S. Department of Commerce and include statistics from the period of 1935-1936.

The article discusses a poll conducted in Minnesota to determine the thinking and buying desires of consumers. The author notes that respondents participating in the survey were reluctant to answer a large number of questions pertaining to the same topic. In order to alleviate this, the poll interjected questions regarding public opinion with questions concerning post World War II buying desires. According to the author, polls such as this can aid manufacturers in discerning potential markets while switching from military to civilian production.

The article discusses a number of issues pertaining to the marketing of small businesses after World War II. According to the author, the primary problem businesses will face after the war will be distribution. The author notes that most small businesses have no experience with market research and its implications for sales and distribution. Also noted are a number of information sources available for small business owners to aid in business planning, including local chambers of commerce and the United States Department of Commerce, which releases reports on the distribution of wholesale, manufacturing and retail operations.l.

The article discusses the use of market research in reconverting industries to the production of consumer goods after World War II. The author notes that while during the war, many manufacturers were producing goods for one buyer, the United States government, after the war those industries will be forced to produce for millions of different buyers. According to the author, marketing research can be used to discover the potential markets for new products, to determine efficient ways of distributing these products and in the determination of sales territories and correlation of advertising and sales promotion.

The article presents abstracts pertaining to World War II and business. They include "Highlights of Population Shifts," "Business Looks to the Future," and "Industry Plans for V. Day."

The article presents a forecast for post World War II retail competition in the U.S. The competitive retail situation can be broken down by relationships including the independent merchant vs. the chain store, independent store vs. large store, and brands, names, and product monopolies vs. lower cost distribution. Experts speculate that chain stores will thrive in the U.S. if the post-World War II period results in higher incomes and a rise in the volume of commodities. They also predict that independent retailers will have to dig deeper for smaller profits.

The article discusses methods of post World War II manufacturer planning. Postwar planning is similar to long-range planning in business. Experts say effective postwar planning should account for the long-range factors which impact business operations. They recommend dividing the postwar plans into the short-term conversion periods and the post conversion period. Basic goals of postwar planning are outlined. The goals outlined include a consideration of the probable minimum sales volume required to support overhead costs, an estimate of the maximum reasonable sales expectancy, and a forecast of probable financial resources.

The article presents news briefs from the American Marketing Association (A.M.A.). A list of the officers elected for 1944 is presented. An A.M.A. business meeting was held in November, 1943 in Cleveland, Ohio. On November 16, 1943 Charles L. Sheldon, purchasing agent of Hood Rubber Co., discussed the principle changes in packaging methods as a result of World War II restrictions on materials.

The author discusses U.S. food distribution trends during World War II. The author says the first World War encouraged significant changes in food distribution including the institution of chain stores. He sees no similar changes as a result of this War. He says independent stores have succeeded over chain stores in terms of food distribution. Chain stores and combination stores sales have dropped off.

The author speculates on the post-World War II role of the U.S. chain store. He contends that the chain store's role will be similar to its role in the pre-War period. He says the chain store provides some of the facilities for economically distributing large proportions of mass- produced commercial goods. The author says that as long as chain stores can provide a system of low-cost distribution their position in the post-War U.S. economy is secure.

The author presents his assessment of the Post-World War II U.S. wholesale distribution of electronics. He believes the traditional methods of distribution must be altered when it is determined how to move merchandise more economically. He contends that marketing channels are most efficient for new product manufacturers.

To recapitulate in case words have obscured meanings! I have assumed that government wartime price control will be dropped some time after the war ceases. I have assumed, too, that there will be an interval during which our industrial and marketing system will be recognizably similar to that of the prewar period. Under these conditions it seemed reasonable to assume that the interest in price control would shift from wartime government controls in order to hold prices down to a combination of private and governmental control to restrain aggressive price cutting. This interest will be derived from normal trading forces and will be nurtured and find expression through the prewar expansion of price regulation intended to protect competitors from injurious, or in general, unfair price competition. Under favorable conditions this general tendency should not in itself have serious untoward consequences so far as the general effectiveness of competition is concerned. But, under unfavorable conditions, especially if there should be serious unemployment, additional crude and short-sighted circumscriptions upon price competition might appear. This whole tendency is an evidence of industrial maturity. It remains to be seen if we shall have also the wisdom of maturity. [ABSTRACT FROM AUTHOR]

The article speculates on U.S. price control policies in the immediate Post-World War II period. Experts contend that the immediate postwar period will be characterised by significant consumption. They say a large backlog of consumer purchasing desire will exist. At the same time experts predict that price control may face a strong opposition from U.S. consumers. They say a government price control policy will be needed however to prevent an immediate post-War price level rise and an eventual recession.

The article discusses the impact of World War II on U.S. market factors. Research has shown that in the first two years of World War II there was a shift from a buyer's to a sellers market in a large number consumer product categories. Under normal business conditions income, possession of goods, and occupation are considered the best predictors of future consumption. Some experts contend that consumer savings is the best indicator for purchasing power. They say the money that is saved during wartime will determine the ability to buy in the postwar market.

The article presents an evaluation of U.S. wartime price control. During World War II price control in the U.S. went through several stages of development. The U.S. began with selective price fixing in 1941. This practice dictates that the price of one commodity after another is fixed. The policy was made mandatory under the Emergency Price Control Act of January, 31, 1942. It was replaced by the General Maximum Price Regulation policy, instituted on April, 29, 1942. Critics say the policy is ill-equipped to handle wages and farm prices.

We have found that, as a result of military operations, the United States was called upon to supply a large share of the petroleum requirements of the United Nations. These necessary shifts in the normal flow of petroleum through- out the world plus the fact that war requirements increased rapidly brought about a shortage of transportation which constituted the petroleum industry's chief problem until recently. Now, because of the magnitude of military consumption, we are reaching the limit of our capacity to produce and refine oil, and greater use will probably be made of foreign crude oil and refining facilities. Even though no passenger cars have been manufactured since the early part of the war, and a substantial quantity of heavy fuel oil outlet has been lost to coal, the postwar outlook for the petroleum industry is not discouraging. Although a reduction from current levels of petroleum consumption can be expected immediately after the war, the drop may not be great percentage wise and it may not take long for total volume to reach prewar levels. in recent years discoveries of petroleum have declined substantially, but it is too early to conclude that the decline is permanent and will result in a shortage of petroleum. Even if that is the case, however) processes are available for converting other hydrocarbons to liquid form and, because our total hydrocarbon resources are enormous, we are in no dańger of running out of liquid fuels. [ABSTRACT FROM AUTHOR]

The article discusses the changes in cross sectioning demographics in consumer panels as a result of the onset of World War II. The author writes about how it was possible to make comparisons between living standards before the attack on Pearl Harbor in 1941 and the standards after because of the traumatic impact of the event. Furthermore, he points out how income distribution has changed sin the United States has switched to a war economy. Three groups of distribution are noted as those in the military, those working in war industries, and others. From this analyzation of the new income distribution, the author feels that this new cross section will be beneficial to consumer research.

The article discusses the Victory Merchandise Plan as a method for financing the war effort and regulating inflation in the United States during World War II. The Plan allows for salesman to sell priorities for goods to be delivered after the end of the war when such merchandise will be available. This method of finance differs from war savings binds because these priorities cannot be cashed in early. The Plan is also expected to stop retail price inflation by offering commodities at a price level consistent with those during the time when the bonds are purchased rather than when the commodities are introduced back onto the market after the war when the demand would be the greatest.

The article presents a survey on the purchasing intents of consumers in the United States after the end of World War II. The author points out several assumptions that involve the end of the war, including that after the nation will have the greatest amount of industrial capacity, raw materials, skilled workmen, pent-up consumer demand, and largest savings on record than ever before in history. He describes the method of the survey, ultimately asking what commodity the consumer would purchase if the war ended tomorrow. Furthermore, he describes how these desires could change before the end of the war, and several problems presented by the war's end, including displaced workers and the decomissioning of war factories.

The article discusses the role of advertising in the economy and how it has changed since the years before World War II compared to the years following the onset of the war. The author describes the role of advertising as the industry doing its part to help win the war, and to convince consumers that business will return to normal after the war is won. Many people have cast a negative light on advertising, with many actually petitioning to curtail print advertising to save manpower and conserve energy used in the extra printing. However, the government has relied on advertising for the sales of war bonds and other methods of war financing. Lastly, the author looks at several current and emerging trends in advertising such as social awareness and giving due credit where applicable.

The article discusses the increasing production capacity in the United States and the opportunities and problems presented by the expected cessation of World War II. Since the bombing of Pearl Harbor in 1941, industrial production capacity and the production of technological advancements has increased dramatically. In 1943, certain consumer goods, such as alarm clocks and pressure cookers, have been appearing again for sales in retail outlets. After the war, the author expects there to some dramatic changes in market structure compared to before the war, such as the geographic shift in markets and new emerging areas of commerce. He also writes about some of the problems of the increased production, such as the government owned factories that will be unnecessary in the future.

The article discusses how World War II and government control of production has affected the consuming habits of civilians. The author first points out the role of the consumer during a war economy, and shows how the needs of the war effort overrule the needs of the consumer as stated by the U.S. Office of Civilian Requirements. The determination of civilian requirements estimates is then described with the idea that a commodity is needed for the war effort when lack of that commodity would hinder the effort. He then discusses how the Office of Civilian Requirements made the estimates and how the allocation of these materials for civilian use was determined.

The article discusses planning for the production capacity and employment levels of industries in the United States after the end of World War II. According to the author, the period after the war should be that of abundance, but only if industry can support the increased labor force and that labor force can provide a level of production necessary for an increased demand. Demand after the war is expected to be great since many consumers will be willing to replace items that were not in production during the war. Also the potential labor force is expected to increase after the armed forces are decommissioned. The expected gross national product is compared with that of the year before the onset of the war, and problems with industrial reconversion to peacetime production is discussed.

The article discusses the effects of World War II on the income of families across the United States and the purchasing power of the nation's consumers. The author points out that while there has been devised a standardization for measuring income, no cross section of income by location has been determined, partly because income increases or decreases faster than people buy new houses and partly because more money does not change the tastes of people. He outlines the classes of people that have experience income changes as those serving with the armed forces, those engaged in war industries, and the general public that have been affected by the war. He then describes a cross reference method for determining how the incomes of these groups have changed.

The article discusses several seller initiatives in planning for a post-war economy. In post-war planning, three areas that have been in the forefront are community and regional planning, planning for the individual enterprise, and national planning by government agencies. The author looks at three different aspects which will be important in planning, in respect of the seller. First, the seller must be able to change the specifications of its product in order to give consumers more for their money without acting fraudulently. Next, the seller must be able to use every effective appeal for promotion with out causing families to overextend themselves. Lastly, the seller must be allowed to provide the most in service and luxury, keeping in respect the basic needs of family.

The article reports on the effects of World War II on consumer credit. During the last months of 1941 and the first few months of 1942 consumer credit dwindled from $10 billion to about $6 billion, as a result of the curtailing of goods bought on installment, such as automobiles and radios. With more income in farming, many more people were able to purchase goods with cash, and others were able to settle their debts in a premature fashion. While war was the main cause of the decline in consumer credit, the author also cites more strict credit regulation imposed by the U.S. Federal Reserve. Speculation is given on the future of consumer credit in the years following the war.

The article discusses a study performed by the Marketing Research Company of America on the change in income level for farm families as a result of the onset of World War II. The author first gives a list of twelve household luxuries that were used to classify the families. Some of these items include cold running water in the kitchen, a basement furnace, and a mechanical refrigerator. Based on the amount of these items a family owned, they were classified into one of five groups. The study found that from 1939 through 1942, many of these families acquired items which would place them into a higher purchasing group. The author also analyzes the shift in farm buying habits for several specific commodities such as sugar, flour, and coffee.

The article discusses the post-war-delivery installment sales plan of the U.S. Office of Price Administration. The author points out that after the end of World War II, many people will want to purchase durable goods that have disappeared from the market because of wartime rationing. The market for these items is expected to be larger than the production capacity, and in these cases prices would be expected to rise significantly. However, the Emergency Price Control Act of 1942 was written to extend one year beyond the cessation of the war. Moreover, the author also feels the need for government control of demand on these goods, which the post-war-delivery installment sales should provide.

The article presents a case study of the efforts by the U.S. War Production Board Requirements Committee to control the production of rubber during World War II. The author explains how the techniques used in accounting for the production of rubber provide information necessary to verify compliance both by the agencies on the Requirements Committee and by the processors of rubber, and also control the release of new rubber.