Focusing on a seldom-considered measure of employmenthours workedenables 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.
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|Other Independent Review articles by Robert Higgs|
|Summer 2017||Moderation in Response to Provocation Is No Vice|
|Winter 2017||First, Do No Harm|
|Fall 2016||Can the State Enforce Virtuous Behavior?|
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