This bold re-examination of the history of U.S. economic growth is built around a novel claim, that productive capacity grew dramatically across the Depression years (1929-1941) and that this advance provided the foundation for the economic and military success of the United States during the...

Do economic downturns provide a long term boost to the growth of potential output? The answer, based on an examination of Depression era experience, is nuanced. TFP growth across the 1930s resulted from the confluence of three tributaries. The first was the continuing high rate of TFP growth...

Do economic downturns provide a long term boost to the growth of potential output? The answer, based on an examination of Depression era experience, is nuanced. TFP growth across the 1930s resulted from the confluence of three tributaries. The first was the continuing high rate of TFP growth...

Intro -- Contents -- Preface -- Introduction -- PART I: A NEW GROWTH NARRATIVE -- ONE: The Most Technologically Progressive Decade of the Century -- TWO: The Interwar Years -- THREE: The Second World War -- FOUR: The Golden Age and Beyond -- FIVE: The Information Technology Boom -- SIX: Fin de...