Econ 1: U.C. Berkeley: Spring 2012: Files for January 30, 2012 Lecture: Market Equilibrium
Quote of the Day: January 31, 2012

Liveblogging World War II: January 31, 1942

The U.S. Wr Production Board halts civilian automobile production:

War Production Board Facts, information, pictures: War Production Board, US civilian agency, headed by Donald M. Nelson (1888–1959), which was formed in January 1942 to organize economic mobilization for the war, encourage industrial expansion, and develop policies controlling every aspect of production. One of its main tasks was to divide scarce materials between the military and civilian production sectors which it was authorized to do under the Second War Powers Act passed in March 1942. It also had the power to stop or ration the production of civilian goods and in agreement with the military, which retained responsibility for procurement contracts, to set production quotas and schedules to eliminate bottlenecks and cut down on waste. To speed the conversion of industry to war production, its first decision was to outlaw the production of all cars and light trucks after 31 January 1942; and by June, when the Smaller War Plants Corporation was formed as part of it, the production of consumer durable goods had been cut by 29%. It was, Nelson later commented, not so much industrial conversion as industrial revolution...