Book cover of "Goliath: The 100-year War Between Monopoly Power and Democracy" by Stoller, Matt.
Text snippet from the book, "Goliath":
"Shortly after Roosevelt called for fifty thousand planes a year, Reynolds went to see Arthur Davis of Alcoa. To Reynolds, Davis seemed as complacent about America's aluminum supply as Levelle had been about French needs. Germany would soon be able to make much more aluminum than the U.S., noted Reynolds. Perhaps Davis should ask the government to finance the buildup of capacity, to match the billion-pound-a-year capacity of the Nazis. Davis, who felt it a burden to accept funds from the government, said Reynolds was "unnecessarily alarmed." There would be no shortage.99
Davis's prediction proved laughable. In November of 1940, the Northrop Aircraft Company cut hours by 20 percent due to a metal shortage. By May 1941, work on bombers by one of the more prom-ising American aerospace companies, Boeing, had ceased because of inadequate aluminum supplies. 100 Congress reacted angrily. Senator Joseph O'Mahoney attacked Alcoa for delaying the manufacture of warplanes by "keeping supplies down in order to keep prices up." while adding that the chemical, iron and steel, metal, electric, and ship-ping cartels had "all played their part in the growth of Hitler's power." Whether the ongoing antitrust suit was decided for or against Alcoa, he said, 'it is clear that the manufacture of American airplanes needed to fill our own and British orders has been seriously delayed because parts manufacturers have been unable to get a sufficient amount of aluminum to fill their orders.'"
#histbookchat #booksky
This week's reading is about the struggle in the #US between the forces for #democracy and monopolistic #capitalism for control over government. See the text image from the book for an example of how this affected #WW2 military production.