Impressed by the sweeping implications of the mind-body problem, the German philosopher Arthur Schopenauer referred to that famous conundrum as the Weltknoten, the "World Knot." Economic history is more prosaic. Yet the economic experience of the United States between World War I and the end of...

In this working paper James K. Galbraith, professor of economics at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin, rejects the analytical construct within which many economists currently operate, that is, the construct in which in the extreme macroeconomic...