A Great Leap Forward: 1930s Depression and U. S. Economic Growth

A Great Leap Forward: 1930s Depression and U. S. Economic Growth

by Alexander J. Field
     
 

ISBN-10: 0300188161

ISBN-13: 9780300188165

Pub. Date: 08/28/2012

Publisher: Yale University Press

This bold re-examination of the history of U.S. economic growth is built around a novel claim, that productive capacity grew dramatically across the Depression years (1929-1941) and that this advance provided the foundation for the economic and military success of the United States during the Second World War as well as for the golden age (1948-1973) that followed.

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Overview

This bold re-examination of the history of U.S. economic growth is built around a novel claim, that productive capacity grew dramatically across the Depression years (1929-1941) and that this advance provided the foundation for the economic and military success of the United States during the Second World War as well as for the golden age (1948-1973) that followed. 

Alexander J. Field takes a fresh look at growth data and concludes that, behind a backdrop of double-digit unemployment, the 1930s actually experienced very high rates of technological and organizational innovation, fueled by the maturing of a privately funded research and development system and the government-funded build-out of the country's surface road infrastructure. This significant new volume in the Yale Series in Economic and Financial History invites new discussion of the causes and consequences of productivity growth over the last century and a half and on our current prospects.

Product Details

ISBN-13:
9780300188165
Publisher:
Yale University Press
Publication date:
08/28/2012
Series:
Yale Series in Economic and Financial History
Edition description:
New Edition
Pages:
400
Product dimensions:
14.40(w) x 9.20(h) x 1.20(d)

Table of Contents

Preface vii

Introduction 1

Part I A New Growth Narrative

1 The Most Technologically Progressive Decade of the Century 19

2 The Interwar Years 42

3 The Second World War 79

4 The Golden Age and Beyond 106

5 The Information Technology Boom 121

6 Fin de Siècle: The Late Nineteenth Century in the Mirror of the Twentieth 146

Part II Extensions and Reflections

7 Procyclical TFP 169

8 The Equipment Hypothesis 192

9 General-Purpose Technologies 206

Part III Historical Perspectives On 2007-2010

10 Financial Fragility and Recovery 231

11 Uncontrolled Land Development and the Duration of the Depression 277

12 Do Economic Downturns Have a Silver Lining? 294

Epilogue 312

Appendix. A Brief Description of Growth Accounting Methods 315

Notes 319

Bibliography 351

Index 371

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