ECONOMIC security, free enterprise, full employment and the expansion of our international trade are all American objectives for the post-war world. But whether they are obtainable together may depend on the way in which we try to achieve each one separately.
We could, for example, in the name of free enterprise and full participation in international trade, greatly relax Government controls over economic life in fields where it has long been established, pursue a thoroughly "orthodox" fiscal policy, rapidly demobilize war-time restrictions, radically reduce tariff barriers, and eliminate foreign exchange and other financial controls. This would be a unified economic policy designed to increase as much as possible the mobility, flexibility and adaptability of our economy.
Already it is evident that features of such a program will have powerful support from certain sectors of our business life. Movements to "get Government out of business" and to curb "meddling bureaucracy with its red-tape and questionnaires," which are heard in ordinary times, may break loose in overwhelming force as the natural reaction from the all-pervading Governmental operations during total war. The heavy war debt will bring demands to balance the budget, similar to the reaction aroused against pump-