Minerals and Monopoly – Formula For Soviet Strength

Since the end of World War II the Soviet Union has made great strides toward economic development of the country. Today it is firmly established as the world's second largest industrial power after the United States and it has committed itself before the people on both sides of the Iron Curtain to catch up with and to overtake us within a few decades. No nation could achieve such a degree of industrialization or aspire to become the world's industrial leader without a large supply of many basic mineral raw materials or at least easy access to such resources. In addition, it requires technical competence, a large skilled labor force, and a high rate of capital investment. Why should we concern ourselves with these Soviet aspirations? The Free World's yardstick of measuring a nation's well-being is the standard of living of the people in that country. Presumably even Communist governments are committed to some, however gradual, improvement in the standard of living of their people. The population of the USSR is 20 pct greater than that of the United States. Hence, if they ever achieve a standard of living equal to ours, they must by all logic reach a greater overall industrial output. However, in the U.S.S.R. the standard of living of the masses has not kept pace with the expanding industrial production and is still far behind that of the United States. Our concern, therefore, is with what the USSR intends to accomplish with its expanding industrial power: Will they produce large mineral raw-material surpluses and manufacture products to compete with us for world markets and attempt to put us out of business if not use it directly to wage war; or will they use their resources merely to produce more consumer goods for the Soviet people; or will they, along with other Communist nations in the not-too-distant future, compete with us for the world's sources of mineral raw-materials to maintain a high level of mass consumption?