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Line 18:
Line 18: − Presidential Assistant [[Harry Hopkins]] who first led Henderson to a job in the TNEC. Then the SEC, NDAC, SPAB, OPM, WPB, OES, OPACS and, finally, OPA.+ − −
Office of Price Administration (view source)
Revision as of 03:20, July 31, 2007
, 03:20, July 31, 2007edit
==Price fixing==
==Price fixing==
High prices are caused by inflation. Inflation is the expansion of the quantity of money available to buy things in excess of the goods available for purchase. If the number of dollars in circulation increases without an increase in the volume of goods for sale, inflation, or a raise in prices, is the result. Henderson understood it exactly backward, thinking inflation was caused by high prices. Henderson was a protégé of Presidential Assitant [[Harry Hopkins]].
High prices are caused by inflation. Inflation is the expansion of the quantity of money available to buy things in excess of the goods available for purchase. If the number of dollars in circulation increases without an increase in the volume of goods for sale, inflation, or a raise in prices, is the result. Henderson understood it exactly backward, thinking inflation was caused by high prices.
The United States Government had been collecting from peoples wages and profits about 70 billion dollars a year was suddenly collecting 100 billion and then 150 billion and then 200 billion a year, but the number of automobiles, refrigerators, radios, meat, butter, flour, eggs and clothing available was less. That is what produced inflation, or a rise in prices.
The United States Government had been collecting from peoples wages and profits about 70 billion dollars a year was suddenly collecting 100 billion and then 150 billion and then 200 billion a year, but the number of automobiles, refrigerators, radios, meat, butter, flour, eggs and clothing available was less. That is what produced inflation, or a rise in prices.