EXPERIENCE has twice shown us that the thinking and planning about economic policies done immediately after the close of a world war soon have to be revised. A nation is fortunate indeed if the revision is not radical and drastic. Though at such a time we intend to look forward, all but the most imaginative economic policy-making is likely to look backward. Thinking is conditioned by the past--a tendency strengthened by the fact that despite well-meaning efforts to make the objectives of a war seem positive, the war aims of peace-loving countries are essentially negative. A war is undertaken to

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