Global Economic Report

Peak Uncertainty

After the end of World War II there was great uncertainty about how the US economy would handle the return of 12 million soldiers, the transition from manufacturing war ships, tanks, bombers, and military weapons to consumer goods, and whether inflation would soar after price controls were lifted. Many forget that the government implemented rationing to control how much of each product consumers could buy, and ensure an equitable distribution. The government sent each American household a ration book containing removable stamps with ration points. And it...

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