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    Old Interview: Post WWII US Economic Growth & War Industry

    Trailer: Dr. Jules Bachman, Professor of Economics at New York University, was the special guest on this episode of the Longines Chronoscrope hosted by Frank Knight. The topic of discussion was the state of U.S. businesses and the general economy. While the civilian economy is down, the war industry is increasingly growing. Dr. Bachman notes that without the war industry, there is a strong chance that the overall economy would be in a much worse state. Credit limits have been removed, and it is thought that that removal should spur some growth in certain industries. The coal, steel, and automobile industries have seen the highest growth. This growth enables the workers to demand better wages, and they now enjoy the highest wages of any industry. Steel workers, who throughout history have had the highest pay, have seen a jump in their wages. This has all happened during a period in which the government has asked Congress to put the tightest control over prices. See the full