Overall, the United States favored this type of Third World economic development. Imperial state and corporate elites recognized the advantages of such development to the American economy. Americans had great faith in their ability to extend economic and technological resources to underdeveloped regions and still maintain industrial leadership. American leaders sought to universalize their conviction that, in a market economy, benefits flow to all participants.( 92) According to American state planners, a rational world economy based on economic liberalism would produce postwar peace and prosperity. Since reconstruction and development would be natural by-products of this system, there was no need for specific plans for development in poor regions. A consensus emerged among imperial state policymakers and capitalist class elites on the advantages of Third World development. A tactical debate raged between New Deal liberals such as Henry Wallace and corporate elites such as Will Clayton over the need for international New Deal institutions and programs for social and economic reform in the world-system. By 1944 the power of the corporate sector in the imperial state bureaucracy had overwhelmed Wallace and his allies. The capitalist class-imperial state axis agreed on the ways to achieve development in the periphery--through free world trade, an international open door, and the free flow of technology, capital, and knowledge.