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.
|Other Independent Review articles by Robert Higgs|
|Winter 2015||Tolstoys Manifesto on the State, Christian Anarchy, and Pacifism|
|Fall 2014||Ronald Coase, Anomalous Superstar of the Economics Profession|
|Summer 2014||The Feds Immiseration of People Who Live on Interest Earnings|
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