Eighty years ago this week, World War II began for the United States with a paralyzing blow against Pearl Harbor —“a date which will live in infamy”—as Japanese bombers attacked the island without warning. Over 3,000 casualties were inflicted on American personnel, and the battleship fleet was virtually wiped out. The country was forced to transition from peacetime to wartime activities. And the war effort had to be financed. Conversion to war production and war financing required flexibility. War production necessitated reallocation of tools and equipment, facilities, and floor space. Thousands of factories previously engaged in production of peacetime products...

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