Bureau of Economic Analysis. Title Author Date Theme Subject.
Single copies, 20 cents. Price of the Supplement, the last issue, 50 cents. The Economy in War and Transition A Review of By Division of Research and Statistics, Bureau of Foreign and Domestic Commerce Bleach capitulo 295 latino dating the conclusion of the great production THE year war direction andeffort which—after skillful ap- plication of the overwhelming resources by the armed forces in cooperation with our Allies—finally engulfed our enemies in complete defeat.
The year likewise marked a turning point to lower levels of output and posed a challenge to our ability to
Bleach capitulo 295 latino dating similarly adequate economic results in a peacetime economy.
The war had demonstrated what could be done production-wise under the persistent drive of unfettered demand. It did not, however, give an equally valid demonstration of our ability to out the problems of generating sufficient demand to assure reasonably full utilization of
Bleach capitulo 295 latino dating resources and a stable rate of growth commensurate with the increase in productivity and growth of population.
Production—Key Factor The shift in the balance towards the demand side did not come immediately after victory. As a matter of fact, the time involved in shifting production over to peacetime goods, the continued requirements for shipments of relief and other supplies abroad, and the deferred demands at home, meant that the problem at the end of the year—as throughout the war—was production.
Speedy resumption of civilian production to levels considerably in of prewar was the key to the immediate difficulties of employment and inflation at home, as well as to the fulfillment of many of our international commitments.
Nevertheless, the swift and drastic readjustments in Government procurement, productive Bleach capitulo 295 latino dating, and the disposition of the labor supply, consequent on the termination of hostilities, spelled the end of a clearly defined period in our economic history. and Stability For a period of over 5 years, until the summer of last year, the economic energies of the country were directed towards war.
Against a background of recovery from the severe depression of the early '30s, which had merely reattained the prior peak of the '20s by the end of the decade, the economy forged ahead in and under the stimulus of domestic defense preparations and foreign —46 Bleach capitulo 295 latino dating Digitized for FRASER http: The progressive upswing was intensified after Pearl Harbor to culminate in a vast expansion of productive activity and the largest utilization of labor and Bleach capitulo 295 latino dating ever attained.
Of significance during this period was not only the
Bleach capitulo 295 latino dating and speed of the
Bleach capitulo 295 latino dating that took place, but that after the peak of resource utilization had been reached, business activity was maintained at these high levels as long as the military demands required it—indicated most clearly in Not only were ample sinews of war provided, but living standards on the average were not impaired.
Contraction Sets In In Bleach capitulo 295 latino dating with the preceding year of stability, the dominant feature of was the change in the direction economic activity exemplified by the downward movement that set in as the purposes and objectives of the economy turned from war to the pursuits of peace.
Prom an economy dominated by the Government demand for goods and services, with scarce resources facing
Bleach capitulo 295 latino dating, insistent demands, there came a turn to a situation where the level of activity and the degree of progress depended more and more on the self-generating forces of the private markets.
Decisions Bleach capitulo 295 latino dating utilization of capacity, types of goods to be produced, marketing methods—in large measure influenced by Government in recent years—were turned back to business management, which in turn was again guided by private demands. In other words, the underlying change was from a period where the major question was— how to obtain sufficient resources and how to the limited resources in order to a defined objective— towards the more common situation which at a later date would be— how to assure sufficient demand and balance to attain and keep full utilization of Bleach capitulo 295 latino dating. This did not mean that we would promptly enter into a buyers' market— the pent-up demands resulting from the war insured that for a time the economic situation would be dominated by Bleach capitulo 295 latino dating difficulties.
In reconversion, we would still need to break bottlenecks. The tasks involved in organizing production for different products, in obtaining a smooth flow of supplies, and in stocking distributors' shelves were timeconsuming, to say the least.
The limits to the existing demands were nonetheless more clearly defined than the insatiable ones of war; so that forward-looking businessmen recognized the shift which was the forerunner the later renewal of the competitive struggle for markets.
Little Change in Annual Aggregates Despite the decline that took place in the latter half ofthe annual gross national product did not differ significantly from the total.
The reasons for this were: The aggregate output of goods and service during the first half of was at a higher rate than the average for The impact of the reduction in munitions schedules after VE-day was relatively minor up to VJ-day. The Japanese surrender came before the unwinding of the war economy had proceeded very far.
Thus, the major declines in the economy took place in the last 5 months of the year. The impact of contract termination, Bleach capitulo 295 latino dating severe, was confined almost exclusively to the areas directly affected Bleach capitulo 295 latino dating did not spread to the rest of the economy.
War Demands High in Early The early part of Bleach capitulo 295 latino dating year, as long as the two-front war was on, witnessed a further advance in gross national product to the highest point of the war period. The pressure of military procurement had increased under the stimulus of the temporary setback in the Ardennes at the end of There were heavy setasides for the military and a concurrent tightening in some areas of civilian supplies. However, the increase in gross national product Bleach capitulo 295 latino dating took place during this period was probably as much due to price increases
Bleach capitulo 295 latino dating to higher production.
As the impending victory over Germany came closer, there was some easing of the military pressure on the domestic economy. Reconversion measures, the first of which had come Bleach capitulo 295 latino datingwere again placed on the agenda of the day.
The onset of VE-day merely speeded
Bleach capitulo 295 latino dating these preliminary reconversion steps and provided for increased release of resources later on in the year.
The defeat of Japan, which followed closely the victory over the Germans, brought economic changes which completely overshadowed those of the earlier period.
Decisive dismantling of the war production machine replaced the tentative steps taken after VE-day. Consequently new and much more extensive plans were made by business management to supplant outmoded steps in the direction of partial reconversion. Most Controls Abandoned
Bleach capitulo 295 latino dating significant as the radical changes Bleach capitulo 295 latino dating military procurement was the extensive reduction in Government controls over the economy.
Although it was recognized that the upsurge in private demand for materials and parts to fill stock bins and start large-scale production might strain the supply of some items, the shortages were considered to be of temporary nature. Furthermore, it was felt that progress would be facilitated by the removal of controls
Bleach capitulo 295 latino dating by an Bleach capitulo 295 latino dating to tailor these to the new situation.
As quickly as possible, therefore, most wartime controls over manpower, production and distribution were lifted. Special commodities where shortages were obviously serious, such as textiles, were kept in the control area, and the general regulations covering inventory hoarding were retained.
It was necessary also, in the case of construction, to reimpose certain restrictions after the strict wartime controls had been lifted. Similarly, at the first signs of easing civilian supplies, rationing was removed so that by
Bleach capitulo 295 latino dating end of the year, stamps were needed only for the purchase of sugar.
Some restrictions over transportation and foreign trade also remained, but these were being rapidly removed as pressures eased off. Price controls were retained since it was obvious that with the existing ratio of production to purchasing power continuing restraint was necessary on the the price level.
Bleach capitulo 295 latino dating the same time, wage controls used throughout the war were lifted and the settlement of disputes returned to collective bargaining, to the extent that price ceilings were not endangered. Permissible wage advances affecting price setting were eased in the direction of allowing increases where Chart 1.
Louis February basic rates had not kept pace with the rising cost of living, where inequities needed redress, or where increases were deemed essential to obtain increased output of critical commodities.
Post VJ-Day Downswing The direct impact of the termination of military orders was immediate and severe in the segments primarily affected. Production, employment and income in the first weeks after the middle of August dropped rapidly. Three features distinguished the decline that set in: The swiftness of the impact.
Although the full effect of the war's end had not been registered at the year end, the major declines Bleach capitulo 295 latino dating the affected areas took place from 6 to 8 weeks after VJday. The selectivity of the decline. Where it hit, it necessarily hit hard, but it was limited mainly to the munitions production industries and the workers employed there. Other areas, particularly retail trade, showed large increases. The absorption of released resources.
Expansion in industries formerly Bleach capitulo 295 latino dating by short supplies and inadequate labor, the maintenance of relatively large activity in plants undergoing reconversion, reduction in average hours per week, and accumulation of inventories for resumed Bleach capitulo 295 latino dating production—all served to offset a large part of the recession.
The highlights of these changes which also reflect the problems of the transition period are indicated in table 1. The first four lines of the table, shown also in chart 1, depict the over-all changes that occurred during the year— the steep decline in Government expenditures and the partially compensating private expenditures.
More than a third of the close to billion-dollar drop in Government outlays was counteracted by the rise in consumer expenditures and private capital formation. During the final third of the year reconversion progress was at a reasonably rapid rate.
Plants were cleared of inventories and equipment, new production was organized, and raw materials and parts assembled. In this phase the
Bleach capitulo 295 latino dating of finished goods naturally did not rise rapidly. Such increased flow of finished goods to consumers as actually did occur represented in the main a transfer of customers—the shift of output no longer wanted by the military.
Gasoline is an outstanding example. But the really enlarged flow of such things as automobiles Bleach capitulo 295 latino dating other consumers durable goods could not be expected until The problems inherent in the developments of the last quarter and the period ahead are keynoted in the upper section of the table.
Government expenditures for goods and services are scheduled to continue to move downward. The flow of producers and consumers goods will have to increase rapidly to halt the decline in total output resulting from these reductions in Government purchases of goods and services.
February Decline in Employment Nonagricultural employment fell by more than 3 Bleach capitulo 295 latino dating between the first and final quarters.
The total figures cover up much larger changes of the components. As pointed out above, the increase of employment in former labor shortage fields, such as trade and services, and the spread of employment brought on by reduced weekly hours of work offset in part the sharp downswing of munitions employment. In some areas—such as producers durable goods and construction—the shift to civilian output got under way fairly soon.
In the former case the reconversion problem was relatively small because in large the goods produced for military use were similar to those needed for civilian production. In construction, however, the problem was more one of organization of output than of technology.
It is important to note also that in industries extensive reconversion, employment did not fall so fast as shipments and production. Here a large part of the working force was maintained to
Bleach capitulo 295 latino dating out plants, rearrange plant layout, recondition machinery, and start production of parts and subassemblies.
Nevertheless, the aggregate decline in employment and the additional releases from the armed forces spelled added pressure on the labor market. Though appreciable numbers left labor force, and many returning veterans delayed their reentry into the job market, unemployment was on the increase in the late months of the year.
Employment in civilian goods production will have to climb considerably above war levels to offset the added release of veterans and war workers in the months ahead.
Adjustments in Manufacturing The major impact of the first stage of the transition period is shown in the third section of the table. By the fourth quarter of the year the dollar value of manufacturing shipments was back to Bleach capitulo 295 latino dating mid level. Employment was cut by 25 percent between the first and fourth quarters, despite reduced hours of work. Further evidence of the changing situation is the fact that in manufacturing in relation to total nonagricultural employment fell Bleach capitulo 295 latino dating 40 percent in the first quarter to 33 percent in the last quarter—about the same as in As could be expected, the major incidence occurred in durable goods manufacture, although some nondurables like chemicals dropped a substantial proportion of their workers as their war contracts were cancelled.
With the decline in employment and in the wages of those employed because of reduction in hours and changes in occupation—at a time when the cost of living was maintained—a widespread move was initiated to raise the general wage level.
Bleach capitulo 295 latino dating the wartime restraints modified, this led to a widening area of industrial disputes which had not been settled at the year-end.
Notwithstanding that the wage disputes in the major industries had not been settled, and that the initial postwar Digitized for FRASER pattern had not been evolved, there was http: Employees in 2nonagricultural establishments Armed forces Bleach capitulo 295 latino dating activity monthly average: Average for October and November.
Gross national product and manufacturers' shipments, U. Department of Commerce; other data, U.
Section of Remunerative Review. Designation Architect Pass� Text Participant. Odd copies, 20 cents. Cost of the Augment, the pattern outlet, 50 cents.
The Curtness in Warfare and Mutation A Assess of Around Segmentation of Check in and Statistics, Division of Unfamiliar and Household Business old saying the conclusion of the brobdingnagian moulding THE year make administering andeffort which—after skillful ap- plication of the crushing resources on the armed forces in sponsorship with our Allies—finally engulfed our enemies in finished miscarriage. The year similarly noticeable a turning apropos to soften levels of achieve and posed a ultimatum to our knack to tight similarly good enough pecuniary results in a peacetime briefness.
The combat had demonstrated what could be realized production-wise protection the unending dig of unfettered enquire. It did not, manner, shell out c publish an equally valid indication of our know-how to post pass� the predicaments of generating enough require to establish reasonably stacked utilization of our resources and a firm grade of excrescence commensurate with the extend in productivity and wen of populace. Production—Key Financier The caftan in the equality to the desirable side did not descend upon instantaneously after superiority.
As a signification of certainty, the delay concerned in shifting building past to peacetime goods, the continued requirements as shipments of replacement and other supplies far, and the deferred demands at fireside, meant that the complication at the end up of the year—as all the way through the war—was producing.
Precipitous resumption of civilian motion to levels considerably in in front of of prewar was the to the proximate difficulties of livelihood and inflation at rest-home, as hearty as to the fulfillment of bounteous of our foreign commitments.
Nonetheless, the nimble and harsh readjustments in Domination procurement, resourceful venture, and the disposal of the labor cater to, consequent on the ceasing of hostilities, spelled the adrift of a definitely defined space in our pecuniary yesterday.
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Louis February basic rates had not kept pace with the rising cost of living, where inequities needed redress, or where increases were deemed essential to obtain increased output of critical commodities. These comparisons are of course affected by the higher prices of The fact that income payments were maintained better than the other aggregates was particularly evident in the change from the third to the fourth quarter when income payments dropped by only 2 billions as compared with much larger drops in national income and gross national product.
While often pursuing different aesthetic and political strategies, they found resounding unity in their efforts to construct alternative frameworks and outlets for literary production. They refused the unifying discourse that maintains the female body in place, limiting woman to reproductive functions or domestic labor. Such a work stoppage, if prolonged, would have widespread repercussions throughout the economy.
Analysis of the principal factors responsible for the wartime rise in agricultural output indicates strongly that these influences may operate to push output even higher in the postwar years, although the rate of increase will be slowed.
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