OCR Text |
Show CONTROLS AFTER WAR ADVISABLE There is no geenral agreement whether the chief danger to the national economy after the war ends is a "runaway price rise" or a "post-war collapse of values." Strange as it may seem, both are possible. Under the circumstances, circum-stances, it is not strange that there are many economists to suggest sug-gest that the government retain its controls until the economic situation sit-uation solidifies. By maintaining something of a managed economy it is suggested, the people will be best protected against either extreme. ex-treme. Against this contention is the argument that free markets with free wages and free prices, permit per-mit national economy to function at its greatest efficiency. While it is admitted that prices rise where shortages appear, the condition con-dition is corrected because industry indus-try turns to the operation that offers the greatest profit and thus relieves shortages. . This would be sound advice if the nation can secure economy completely free of artificial controls, con-trols, including those erected by the mastter minds of business as well as those enacted by legislation. legisla-tion. In the United States there there exist monopolistic control of certain materials and some products pro-ducts and so long as this is the case it is foolish to talk about the effect of any shortage upon production or upon prices. |