Wartime Prosperity? A Reassessment of the U.S. Economy in the 1940s
1992 ◽
Vol 52
(1)
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pp. 41-60
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Relying on standard measures of macroeconomic performance, historians and economists believe that “war prosperity” prevailed in the United States during World War II. This belief is ill-founded, because it does not recognize that the United States had a command economy during the war. From 1942 to 1946 some macroeconomic performance measures are statistically inaccurate; others are conceptually inappropriate. A better grounded interpretation is that during the war the economy was a huge arsenal in which the well-being of consumers deteriorated. After the war genuine prosperity returned for the first time since 1929.
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1971 ◽
Vol 5
(2)
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pp. 1-23
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2018 ◽
pp. 80-96
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2010 ◽
Vol 17
(2)
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pp. 335-359
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2016 ◽
Vol 02
(03)
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pp. 401-419
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