Economists at Armistice

Abstract

1946 brought the Armistice and a new economic task: the focus of the economists had to move from the problems of wartime rationing and finance to a new world of economic reconstruction, post-war stabilization, economic growth, and debt reduction. In addition the Cold War brought a new tactic: strategic deterrence. In this year Japan commemorated the anniversary of the death of Takashi Korekiyo, H. H. Kung gathered his wealth and prepared to flee the Chinese Communist forces, Maynard Keynes helped establish the International Monetary Fund, only to die exhausted, and Hjalmar Schacht defended himself from accusations of Nazism and regained his freedom.