RENEGOTIATION OF WAR CONTRACTS

Authors

Charles W. Steadman, Ordnance Department; Cleveland Ordnance District; Price Adjustment Board of the Cleveland Ordnance DistrictFollow

Abstract

The limitation of war profits to fair and reasonable levels and the purchase of war goods at fair prices are essential to the successful prosecution of the war. These problems come as a part of war and must be solved just as surely as tactical problems in battle. Exorbitant profits and prices spell defeat to any nation, for they point the way to inflation and economic collapse. In modern war the difference between defeat and victory lies ultimately in the economic strength of the countries involved. The lessons of history have shown us that no nation can achieve and maintain its greatest strength and maximum efficiency of · production without having solved the problems of controlling war profits and prices.

Recommended Citation

Charles W. Steadman, RENEGOTIATION OF WAR CONTRACTS, 42 Mich. L. Rev. 1 (1943).
Available at: https://repository.law.umich.edu/mlr/vol42/iss1/2