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A $500,000,000 PROGRAM
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and importantly so, upon the economic environment as determined by national policy. The latter can serve cither to encourage the expansion of enterprise or to discourage such expansion to the point that development is largely frozen. The field of business opportunity must always be appraised for its long-term as well as its short-term possibilities, and likewise as to whether the underlying factors are sound and likely to be permanent or are synthetic in origin. No intelligent measure of the future of any business is possible without consideration of all such circumstances.
One requisite of a successful business is the ability to deliver products of an advanced type at a competitive price at a time when the customer is prepared to buy, and in quantity to meet in full the demands of all customers in all markets. Only by recognizing such a formula can the position of any business enterprise be maintained and strengthened.
CONCEPT OF GENERAL MOTORS POSTWAR
Certain questions arise from what has been stated in the preceding paragraph. Upon the answers depend the whole concept of General Motors postwar. First, what is the consumer demand of the early postwar period likely to be for General Motors products? Second, what is the relationship of that demand to the longerterm position beyond? Third, what is the national policy to be with respect to business enterprise as importantly determining the scope of business opportunity?
The answer to the first question is
ascertainable with a reasonable degree of accuracy by statistical analysis, assuming the problems of the transition are effectively solved. The answer to the second question depends in great part upon the answer to the third. And the answer to the third involves a great amount of uncertainty. Its determination importantly depends upon whether the attitude of the prewar "thirties" towards business is to be the attitude of the postwar "forties." But the answer must be found.
IMPACT OF NATIONAL ECONOMIC POLICY
The concept of General Motors postwar is based upon these beliefs: that the people of our country, as a result of the war, have found new inspiration in an opportunity to do something worth while and to work for the things they want; that economic "fantasies" will have died with the war; that a changed attitude will inevitably reflect itself in new and different national economic policies that will broaden the field of business opportunity; that the expanded bureaucracy will be duly deflated with the end of the war — and because our people will, through this preview of regimented economy, recognize its depressive influences and its restrictions on their freedom of action and opportunity.
Perhaps this conception of the postwar era will not be justified by future events. But it is because of these beliefs that General Motors moves forward as it does. There is every reason for thinking that the nation is awakening to a new appreciation