A Revealing Window on the U.S. Economy in Depression and War: Hours Worked, 1929–1950
By Robert Higgs
This article appeared in the Summer 2009 issue of The Independent Review


Focusing on a seldom-considered measure of employment—hours worked—enables a better understanding of the U.S. economy during the Great Depression and World War II. This approach not only proves that the New Deal failed to bring about full economic recovery, but also suggests that the “miraculous” wartime increase in real output has been greatly exaggerated.

Other Independent Review articles by Robert Higgs
    Fall 2015   How Big Is Government in the United States?
    Summer 2015   Gross Domestic Product—an Index of Economic Welfare or a Meaningless Metric?
    Spring 2015   Compassion—a Critical Factor for Attaining and Maintaining a Free Society
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