A memory submitted by Ray Hall, Class of 1943

Dean Hauhart, School of Business Administration, taught that during World War Two, the major financial concerns were 1) how are we going to pay for the costs of war; and 2) inflation. He taught that the Government has a printing press and they would keep printing enough money to pay for the war, and this would lead to more inflation. His insights are as true in 2014 as they were in 1943.