September 2, 1946
In honor of Banned Books Week, we're publishing our original reviews of frequently banned books. In 1946, our critic George Soules read Animal Farm with disgust, calling the book "on the whole dull...a creaking machine...clumsy." We imagine he may have lived to regret these judgments.
War profits—after deduction of war taxes—have been the greatest in history. The government virtually guaranteed contractors against loss by paying for their investments in war equipment. Now business is guaranteed against loss in resuming civilian production. By congressional enactment, the Treasury must pay back excess-profits taxes to businesses which in 1946 suffer certain reduction to income.
NO PROBLEM OF first importance in international relations it less understood in the United States than the economic divergence between the United States and Great Britain. The sudden and unilateral cancellation of Lend-Lease by President Truman has led to a hasty attempt by foreign correspondents and commentators to explain the British situation. But most of these efforts are incomplete and have not sunk far into the American consciousness.
The Question which everyone is now asking is one which has puzzled the world's most eminent economists for decades. It is impossible to discuss it briefly without seeming dogmatic or oversimple. To muster the adequate authority, to make the necessary elaborations and qualifications and to marshal the necessary statistics, would be a task for a research staff scouring an encyclopedic literature and pounding batteries of computing machines for years.