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By Richard Fernandez

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Economics for dummies

June 16, 2009 - 9:43 pm - by Richard Fernandez
pel
2009-06-17 02:08:21

I would instead say that the Great Depression ended with the end of the War.

During the War, the American economy had major governmental intrusions through rationing, nationalizations, and shipping off a not-insignificant piece of the labor force as soldiers. I wouldn’t call an economy functioning with a semblance of normality under these conditions.

This should not be read as an endorsement of an economy mobilized for war effort as a recovery scheme. However, it is interesting how one might be motivated to economic activity after coming out on the winning side of a war.