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Socialized capitalism and a war time cost meditation
Paul T. Babson predicts a shift to state capitalism as government and business merge under wartime stress. He cites the twenties speculative spree as root cause and warns of higher control unless reforms curb credit and stock fraud. Beans, Joe Friday style, show wartime shortages won’t pause ingenuity. Government war finance details outline 1943 outlook with banks, insurers, and taxes supporting a 70 billion spend.
MENTIONED IN THIS ARTICLE
Paul T. Babson
Babson
Federal Reserve
Congress