Arthur Herman recounts President Franklin D. Roosevelt’s call to industrial business magnates William Knudsen and Henry Kaiser to leave their private sector positions and lead the U.S. war production effort during World War II. Knudsen, president of General Motors, and shipbuilder Kaiser utilized their connections to build a team of former private sector industrial minds from the likes of GE, Frigidaire, and Chrysler; dubbed the “dollar-a-year men,” they transformed the U.S. military’s aircraft and munitions productions. Mr. Herman argued that this success was not due to government direction of the economy but rather to freeing private enterprise to meet the demands of the market. He showed slides during his presentation and then responded to questions from members of the audience at this Book Forum of the American Enterprise Institute in Washington, D.C. close
People in this video
Arthur Herman Visiting Scholar American Enterprise Institute
Henry Olsen Vice President & Director American Enterprise Institute->National Research Initiative
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