Wednesday, December 22, 2021

Inflation and Reconversion

Since inflation is on the rise lately, here is another interesting take on the issue.

Excerpt:

"Reconversion: a better lesson from history

A better historical analogy than the 1970s for today’s inflation problem is the reconversion of the U.S. economy from wartime to peacetime production after World War II and the Korean War. For instance, civilian automobile production ended in early 1942 and didn’t resume until late 1945. It took time to reconvert factories from making aircraft engines to automobile engines."










Image credit - Pinterest. Vintage Art of Inflation in 1946.

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