TY  - RPRT
        AU  - Pencavel, John H.
        TI  - American Workers' Experience with Socialism During the World Wars
        PY  - 2025/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 17680
        UR  - https://www.iza.org/index.php/publications/dp17680
        AB  - The operation of American labor markets during the two World Wars is described and the well-being of civilian workers during those years is assessed. These were periods when decentralized capitalism was replaced with a system of centralized direction and control that some would call socialism. The state's activities were those of a monopsonist - the dominant or, even, single buyer - in the markets for many goods and services. Why was decentralized capitalism discarded as a mechanism to allocate resources during these critical periods? How well did civilian workers fare during these years?
        KW  - World War
KW  - employment
KW  - wages
KW  - unionism
KW  - laissez faire
KW  - socialism
        ER  -