The White House, Washington, Memorandum for the President Re: expansion possibilities of our system: December 2, 1940

摘要

The most important single factor that should determine our approach to a number of pressing problems is our estimate the expansion possibilities of our system. For instance, if we feel that they are nearly reached, we would be inclined to look favourably on proposals to restrict consumption and to resort to priorities and rationing rather than construct more facilities. Quite different policies would be appropriate if there were still a lot of slack to be taken up. Precision is not possible in a matter of this sort, but I have had some of the ablest economists in the Government working independently on the problem, and their findings are in general agreement.