The Age of Magic Money
Can Endless Spending Prevent Economic Calamity?
August 6, 1945, will remain forever a milestone in human annals. On that date the world's first atomic fission bomb was dropped upon Japan. The action may have been necessary for the purpose of saving American lives. But it was not merely another episode in the long history of man's inhumanity to man; and it was even more portentous than the final victory over Japan which quickly followed. For it marked the first harnessing of the sun's power on a large scale, with all the untold consequences for good and evil implicit in the achievement. The new chapter may end in man's reversion to a troglodyte, or it may lead to the establishment of a world brotherhood in which the forces of nature, including man's own passions, are harnessed to the common good.
The war against Japan reached its end as suddenly as it had begun, months before most of our