Volume III – War Economy, 1939–1942 (1st edition, 1955)

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Author: Butlin, Sydney James Christopher Lyon

This volume is the first of the two on war economy and takes the story up to the attack by Japan, and beyond. It traces in some detail the preparatory work which was achieved in the first two years of war and which was to prove supremely important in meeting the dire threat in the Pacific. The author has dealt separately with the various strands of economic organisation: with price control, shipping, primary production, secondary industry and manpower; but he pauses at intervals to survey these separate strands and to show how, as the war continued, they were perforce woven into a pattern which was to emerge in the closely integrated war economy of the later years.

He has striven to make the story intelligible to those not conversant with theoretical economics, while at the same time presenting for economists a general picture of what was, for Australia, a crucial period of economic development.