Wartime Prosperity? A Reassessment of the U.S. Economy in the 1940s

@inproceedings{Higgs1992WartimePA,
  title={Wartime Prosperity? A Reassessment of the U.S. Economy in the 1940s},
  author={Robert Higgs},
  year={1992}
}
  • Robert Higgs
  • Published 1992
  • Economics
  • 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… CONTINUE READING

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