In 1918 the British War Cabinet noted that "[t]he nation today is far better organized and far more productive than it has ever been before" (HMSO 1918a, xvi). And indeed, the controlled economy delivered beyond anyone's expectations. Despite a dearth of material, losses at sea, and the shortage of manpower, the total output of British industry had hardly declined at all during the war (Pollard 1969, 53– 54).

Clara E. Mattei, The Capital Order, loc. 191