Economic policy is the continuation of war with other means. In the last great confrontation between the world’s dictatorships and democracies, economic circumstances favored the democracies. Japan and Germany possessed neither the resources nor the manpower to power them to victory: they were forced to spend blood and treasure to conquer nations and populations to fuel their war machines.
The allies, most specially America, had all the economic advantages: a 25 per cent unemployment rate to provide a pool available for military service or to work in defence factories; a female population ready, willing and eager to escape the kitchen in favour of the factory; an ample supply of natural resources, and the ability to step up production of war materiel at an astounding pace.