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The Truth about the American Century
The American economic boom of the mid-twentieth century had very little to do with tax rates, fiscal or monetary policies, unions, democrats, republicans, congress, or the presidents.
The American economic boom of the mid-twentieth century had very little to do with tax rates, fiscal or monetary policies, unions, democrats, republicans, congress, or the presidents.
The US became the economic engine of the world because the world spent four years bombing our industrial competition into the dirt. The oft-repeated claim that World War II dragged us out of the Depression is true but it had little to do with anything we did at home.
World War II was awful for our economy. We produced zero cars during that time. Housing construction was halted. Sugar, meat, flour, butter, and so much of daily life was rationed and it didn’t end until 1946. A year after the war.
The Allies ruined the economies and infrastructures of the Axis and, except for the US, the Axis did the same for the Allies. Much of Africa, South America, and South Asia was still reeling…
