feddoc
Long Time Member
- Messages
- 7,441
Bill Knudsen’s Business Skills Saved the U.S. at the Dawn of World War II
Can the presidency use a businessman’s skills? Historian Arthur Herman cites the example of Bill Knudsen and World War II.
www.thedailybeast.com
(except for the BS about Romney) there is a lot of truth in this article.
Knudsen and his dollar-a-year men faced a hailstorm of criticism from an isolationist Congress, from hostile union officials, and from the Washington media. Yet the whole time, America’s factories were soon converting themselves into the “arsenal of democracy,” Knudsen called it (a phrase FDR borrowed and used in his famous December 1940 fireside chat).
The results were as staggering. From a standing start, by the time of Pearl Harbor, America’s war production effort was approaching that of Hitler’s Germany. By the end of 1943 it was bigger than that of Germany, Britain, and the Soviet Union combined. By the end of the war, 70 percent of everything the Allies used to win World War II was made in an American factory.
National GDP nearly doubled; unemployment plunged to barely 1 percent; half a million new businesses sprang up. The productive power Knudsen and his colleagues unleashed triggered a postwar boom that lasted nearly 30 years–the greatest expansion of the American standard of living in history.