The Reality of the Wartime Economy: More Historical Evidence on Whether World War II Ended the Great Depression
By Steven G. Horwitz
Michael J. McPhillips

This article appeared in the Winter 2013 issue of The Independent Review


The notion that World War II is responsible for ending the Great Depression has met growing skepticism among economic historians. Although the wartime economy saw increases in conventional measures of macroeconomic performance, the letters, journals, and newspapers of the era indicate years of continued material deprivation and hardship, rather than rising living standards for the average American.

Other Independent Review articles by Steven G. Horwitz
    Spring 2009   Wal-Mart to the Rescue: Private Enterprise’s Response to Hurricane Katrina
    Winter 2009   Fascism: Italian, German, and American
    Summer 2001   From Smith to Menger to Hayek: Liberalism in the Spontaneous-Order Tradition
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