By United States Navy Task Force 68
This file represents the mixed observations of military team of workers assigned to activity strength sixty eight, Operation "Highjump", Naval Antarctic improvement undertaking, December 1946 to April 1947. Chapters contain information about the Army's curiosity in Antarctica, engineer operations; transportation, plane operation, seek and rescue, scientific concerns, communications (Signal Corps), Communications (ACS), images, meteorology, Antarctic plan for medical exploration, and a mixed observers'; log.
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The result is a price rise. 舡 If the public is convinced, on the other hand, that it is the government舗s fiscal and monetary policies, and not the greed of producers and sellers, that are forcing up prices, and if the public realizes further that government price control only compounds the evils brought about by monetary inflation, and if the public recognizes that price control in the long run cannot help but must hurt the great body of consumers, then the chief political prop of the welfare state will collapse.
We still have international coffee agreements and international wheat agreements. A particular irony is that the United States was among the sponsors in organizing the international coffee agreement, though its people are the chief consumers of coffee and therefore the most immediate victims of the agreement. Another irony is that the United States imposes import quotas on sugar, which necessarily discriminate in favor of some sugar-exporting nations and therefore against others. These quotas force all American consumers to pay higher prices for sugar in order that a tiny minority of American sugar cane producers can get higher prices.
This remedy is defective in two respects. It tacitly assumes that there is a uniform discrepancy between prices and wages and a uniform percentage of 舠idle capacity舡 throughout industry. Neither is true. If 舠industry舡 is estimated to be operating at 80 per cent of capacity, we must remember that this figure is at best an average. It may cover a situation in which, say, industry A is operating at only 60 per cent, industry B at 63 per cent, and so on up to industry M at 97 per cent and industry N at 100 per cent.