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

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Yale University Press, 2011 - Business & Economics - 398 pages
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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.
 

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Contents

Introduction
1
A NEW GROWTH NARRATIVE
17
EXTENSIONS AND REFLECTIONS
167
HISTORICAL PERSPECTIVES ON 20072010
229
Epilogue
312
Appendix A Brief Description of Growth Accounting Methods
315
Notes
319
Bibliography
351
Index
371
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