New Deal Price Controls
(Newsweek Magazine, 1941)
This article appeared six months before the 77th Congress passed a price control law as a wartime measure in an attempt to stave off inflation. The column pertains to the early planning of a wartime economy as the nation prepared to devote itself to total war. You’ll remember that the Supreme Court found FDR’s price control schemes (the NRA) to be unconstitutional during the Thirties. Regardless of their efforts, inflation still kicked-in after the war, up until the Republican Congress cut taxes.