ABSTRACT
Aside from the replacement of free private economy by governmental economy, the general effects of calamities upon the economic life of society consist in three principal modifications: first, in the lowering of the well-being of the bulk of the population; second, in a tendency to reduce the economic contrast between the poor and the rich; and, third, in a sharp reallocation of wealth as between persons and groups. The totalitarian system presents a certain fundamental paradox, if not dilemma. On the one hand, disaster dictates the expansion of governmental control of economic relationships in order to cope with the emergency; on the other hand, the excesses ordinarily engendered by such a policy serve to intensify the evil still further. No revolution succeeds in creating lasting economic equality. Those who, during the first phase of the struggle, profess such an objective frequently end their career as convinced and vigorous proponents of the "sacredness of private property".
