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j THE BDM CORPORATION P.RCENT 12 -4 UNEMPLOYMENT RATE 6 0 .6 1955 1967 1969 1%1i 4541178w UNEMPLOYMENT AS PERCENT OF CIVILIAN LABOR FORCE: SEASONALLY ADJUSTED .Figure 4-2. Unemployment Rates, 1955-1961 V 4-6 ~~RON
THE BDM CORPORATION S, tf 2. Anti-Inflation Policies During World War II tnd the Korean War Decisive government actions were taken during both World War II and the Korean War to put the US economy on a wartime footing while minimizing the inflationary impact of war production. essentially threefold. These policies were First, steps were taken to reduce civilian demand and thus free a larger share of national produc.ion for war use. These steps included the imposition of special taxes to curb the spending power of the civilian population and, during World War II, the rationing of key commodities. Second, the federal government subsidized expansion of the nation's industrial base. And third, wage and price controls were used to cemplement the anti-inflation impact of wartime tax increases. These policies were successful in shifting and expanding supply to meet wartime needs. At their World War I-I peak, war expenditures accounted for fully 41 percent of US GNP. At the height of the Korean War, war expenditures accounted for 13 percent of GNP. Over the long run, however, these policies were less saccessful in preventing inflation. Figure 4-3 illustrates how the consumer price index rose sharply during both World War II and Korea, as it had during p'evious wars. These price increases partly reflected the existence of slack in the economy immediately prior to both wars, but the fact that wartime inflationary pressures were much more than just a cyclical phenomenon is indicated by, other things, price controls. amongst the rapid inflation that followed relaxation of wage and These post-war bursts of inflation were followed, in turn, by short recessions during which the economy readjusted to reduced military demand. 10/ It should be noted that mention of efforts to counter inflationary pressures created by World War II and the Korean War is intended to lend percpective to the discussion of the Vietnam War years that follows. While it gives an indication of how difficult it is to keep a lid on inflation while conducting a war, it is not intended to question the valle of the anti-inflation measures themselves. Doing so would require a detailed analysis of the economy, the economic impact of war-related production, the S~4-7
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CORPORATION / ,/ DIEN BIEN PHU HANO
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THE DCORPORATION 791,5 Jones Branch
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THr. BDM CORPORATION PREFACE * A. F
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" HE BDM CORPORATION B. CONTEXT OF
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• - • -,-.-----L_..:...•_ -__
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TýE BDM CORPORATION TABLE OF CONTE
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THE BDM CORPORATION TABLE OF CONTEN
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THE BDM CORPORATION Figure LIST OF
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THE BDM CORPORATION _-I INSIGHTS Su
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THE BDM CORPORATION INSIGHTS Changi
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THE BDM CORPORATION" LESSONS Each m
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ThE BDM CORPORATION INSIGHTS Domest
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THE BDM CORPORATION CHAPTER 1 SUPPO
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_ -4• - "~ ~ _ THE BDM CORPORATIO
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4- -MM-------- THE BDM CORPORATION
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THE BDM CORPORATION k By 1944 76 pe
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THE BDM CORPORATION POLL QUESTION A
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THE BDM CORPORATION .1 the peace ta
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THE BDM CORPORATION war was less pr
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THE BDM CORPORATION losses among US
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THE BDM CORPORATION of college stud
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S__ _ _ _ •. _ _ _ .. THE BDM COR
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THE BDM CORPORATION In this overvie
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THE BDM CORPORATION labor opinion i
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THE BDM CORPORATION to persuasive o
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THE BDM CORPORATION CHAPTER 1 ENDNO
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THE BDM CORPORATION Daily Tribute c
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THE BDM CORPORATION Lipset's number
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THE BDM CORPORATION CHAPTER 2 CHANG
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THE 3DM CORPORATION The allied succ
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THE BDM CORPORATION and south. The
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THE BDM CORPORATION The civil right
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THE BDM CORPORATION f 1966. King st
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THE BDM CORPORATION (3) More import
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THE BDM CORPORATION Before the Viet
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THE BDM CORPORATION sympathizing wi
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THE BDM CORPORATION portion of the
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THE BDM CORPORATION election would
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THE BDM CORPORATION t This action c
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THE BDM CORPORATION the early 1970s
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I Q _IN, THE BDM CORPORATION which
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THE BDM CORPORATION concluded that
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THE BDM CORPORATION term.43/ That a
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THE BDM CORPORATION growth - activi
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THE BDM CORPORATION 444 the Neutral
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THE BDM CORPORATION which followed
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4i THE BDM CORPORATION CHAPTER 2 EN
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THE BDM CORPORATION 8. Ibid. Weber
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THE BDM CORPORATION There is a time
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Page 109 and 110: THE 8DM CORPORATION become 2. The M
Page 111 and 112: THE BDMC'CORPORATION individuals an
Page 113 and 114: THE BDM CORPORATION during the Viet
Page 115 and 116: THE BDM CORPORATION The administrat
Page 117 and 118: THE BDM CORPORATION their reporting
Page 119 and 120: THE BDM CORPORATION the area. One h
Page 121 and 122: THE BDM CORPORATION In his January
Page 123 and 124: V THE BDM CORPORATION throughout Ni
Page 125 and 126: THE BDM CORPORATION ki• J 1972 el
Page 127 and 128: THE BDM CORPORATION served a consid
Page 129 and 130: 'THE BDM CORPORATION ' Of particula
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Page 133 and 134: THE BDM CORPORATION reports on inci
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Page 139 and 140: THE BDM CORPORATION 114. Ibid., p.
Page 141 and 142: THE BDM CORPORATION 32 The attacks
Page 143 and 144: THE BDM CORPORATION 1 51. Ibid. dat
Page 145 and 146: THE BDM CORPORATION •J 61. In a n
Page 147 and 148: THE BDM CORPORATION CHAPTER 4 US EC
Page 149 and 150: THE BDM CORPORATION B. THE US ECONO
Page 151: THE BDM CORPORATION RECESSION TROUG
Page 155 and 156: THE BDM CORPORATION "relative meits
Page 157 and 158: THE 8DM CORPORATION continued to de
Page 159 and 160: THE BDM CORPORATION Sbutter. The da
Page 161 and 162: THE BDM CORPORATION year a number o
Page 163 and 164: THE BDM CORPORATION $41.1 billion.
Page 165 and 166: THE BDM CORPORATION 4 U.S. BALANCE
Page 167 and 168: THE BDM CORPORATION i I r abroad an
Page 169 and 170: THE BDM CORPORATION E. NIXON ADMINI
Page 171 and 172: .t THE BDM CORPORATION , 1 PERCENT
Page 173 and 174: THE EDM CORPORATION Meanwhile, the
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Page 177 and 178: THE BDM CORPORATION CHAPTER 4 ENDNO
Page 179 and 180: THE BDM CORPORATION 13. Kennedy was
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Page 185 and 186: THE BDM CORPORATION military effort
Page 187 and 188: THE BDM CORPORATION 37. Most of the
Page 189 and 190: THE BDM CORPORATION During the 1950
Page 191 and 192: THE BDM CORPORATION the struggle wi
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Page 195 and 196: THE BDM CORPORATION articulate spok
Page 197 and 198: THE BDM CORPORATION in Southeast As
Page 199 and 200: TH,: BDM CORPORATION criticism by o
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THE BDM CORPORATION political weakn
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THE BDM CORPORATION The Cuban Resol
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7MM THE BDM CORPORATION rather beca
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THE BDM CORPORATION 4 the president
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THE BDM CORPORATION Jseas: -r• du
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THE BDM CORPORATION concerning such
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i THE BoM CORPORATION occasion, the
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THE BDM CORPORATION :ii '4 passage
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THE BDM CORPORATION E. SUMMARY ANAL
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THE BDM CORPORATION if they knew bo
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THE BDM CORPORATION F. LESSONS With
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THE BDM CORPORATION S dollars. From
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THE BDM CORPORATION 44. Congress, I
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THE BOM CORPORATION BIBLIOGRAPHY
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THE BDM CORPORATION VOLUME TV BIBLI
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THE BDMV CORPORATION VOLUME IV BIB3
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o-. THE BDM CORPORATIGN Sell, Danie
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THE BDM COHPORATION Gabriel, Richar
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_~- ,_K.. __-- 7- - - A07 EE 57 7 E
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THE BDM CORPORATION NimOo, Dan, Pol
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THE BDM CORPORATION Silberman, Char
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THE BDM CORPORATION White, T. H., T
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THE BDM CORPORATICN' Caine, Major P
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4Z, - I THE BDM CORPORATiON ] Krist
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