This really angered labor though another debacle

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Unformatted text preview: peech, worship, want, fear), and telling people they had to go out and fight for the American Way of Life. To help get the idea around, he established the Office of War 223 Information (1942) to take charge of the matter – Hollywood joined in too, of course (Capra’s Why We Fight). Gov’t Regulation of the Economy – As follows… Office of Price Administration (1942): The OPA quickly went to work controlling inflation through price ceilings on commodities and rents, as well as establishing rationing through local War Price & Rationing Boards. Many businesses protested, and blamed the OPA for scarcity, but tough luck for them. War Production Board (1942): Following Pearl Harbor, the WPB was established to convert the economy from civilian to military production. War Manpower Commission (1942): Recruited workers for the factories. Gov’t Incentives in Business: The gov’t guaranteed profits (cost-plus-fixed-fee contracts), lowered taxes, and excluded businesses from antitrust laws. Witness the rise of the dreaded military-industrial complex. Results of the Wartime Economy – As always, unemployment basically vanished, and people started making more than ever. The gov’t didn’t even bother to overtax them, instead relying on deficit financing. Also, industry (and especially agriculture) experienced yet another period of consolidation. Federal Support of Science & Technology – Like business, scientific enterprises all got bigger as 224 the gov’t poured $ into big universities and military/science projects. Growth of Organized Labor – A labor/management conference agreed (after PH) to a no strike/lockout pledge to guarantee war production. The NWLB was then created to oversee any disputes – unions were allowed, but workers couldn’t be forced into them either. It wasn’t all good, though, b/c when the NWLB tried to limit wage increases in 1943, workers struck big time, leading to the War Labor (SmithConnally) Act (1943), which gave the president authority to seize and operate plants w/...
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