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.

 PDFRead the Full Article (PDF, 23 pages)

Other Independent Review articles by Steven G. Horwitz
    Fall 2017   Success and Luck
    Summer 2017   Inequality
    Spring 2009   Wal-Mart to the Rescue
[View All (7)]