Archive Report
Archive Report
Defense Profits and Curbs on Profitering
Fear that the federal government will impose too tight a rein on industry profits, through its administration of price controls, is agitating the business world as Congress considers renewal of the price-control authority contained in the Defense Production Act. The United States Chamber of Commerce, the National Association of Manufacturers, and others are advocating outright abolition of price and wage controls. Congress, however, is not likely to let the power to impose those controls lapse on June 30, its current expiration date. Although the upward spiral of prices seems to have momentarily slackened, the full weight of inflationary forces generated by the defense program has yet to be felt. It is widely believed that higher taxes, more stringent credit ...