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By Alexander J. Field Ph.D.

This daring re-evaluation of the background of U.S. financial progress is outfitted round a unique declare, that productive capacity grew dramatically around the melancholy years (1929-1941) and that this develop supplied the basis for the industrial and armed forces good fortune of the USA through the moment international warfare in addition to for the golden age (1948-1973) that undefined.
Alexander J. box takes a clean examine progress facts and concludes that, at the back of a backdrop of double-digit unemployment, the Thirties truly skilled very excessive premiums of technological and organizational innovation, fueled via the maturing of a privately funded study and improvement approach and the government-funded build-out of the country's floor street infrastructure. This signficant new quantity within the Yale sequence in monetary and fiscal background invitations new dialogue of the motives and consequences of productiveness development during the last century and a part and of our present clients.

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Field Published with assistance from the Louis Stern Memorial Fund. Copyright © 2011 by Yale University. All rights reserved. S. Copyright Law and except by reviewers for the public press), without written permission from the publishers. Yale University Press books may be purchased in quantity for educational, business, or promotional use. S. K. office). Printed in the United States of America. Library of Congress Cataloging-in-Publication Data Field, Alexander J. S. economic growth / Alexander J.

Copyright Law and except by reviewers for the public press), without written permission from the publishers. Yale University Press books may be purchased in quantity for educational, business, or promotional use. S. K. office). Printed in the United States of America. Library of Congress Cataloging-in-Publication Data Field, Alexander J. S. economic growth / Alexander J. Field. p. cm. — (Yale series in economic and financial history) Includes bibliographical references and index. ISBN 978-0-300-15109-1 (hardcover : alk.

Economy far beyond what contemporary observers and economists at the time believed possible. Some of these developments involved entirely new products, not just process improvements in the production of goods already in the market. S. 9 First, the sheer volume of military and total output produced between 1942 and 1945 was indeed remarkable. Second, there were extraordinary achievements in particular sectors, most notably airframes and shipbuilding. Between the first quarter of 1942 and the last quarter of 1944, for example, airframe production increased by a factor of six, and labor productivity grew by 160 percent.

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