Sunday, October 9, 2011

The Depression - If Only Things Were That Good - NYTimes.com

David Leonhardt, like Ezra Klein in his recent piece (see below), draws on the insight of professors Reinardt
The Depression - If Only Things Were That Good - NYTimes.com:
by David Leonhardt (Washington Bureau Chief - NY Times)

"UNDERNEATH the misery of the Great Depression, the United States economy was quietly making enormous strides during the 1930s. Television and nylon stockings were invented. Refrigerators and washing machines turned into mass-market products. Railroads became faster and roads smoother and wider. As the economic historian Alexander J. Field has said, the 1930s constituted “the most technologically progressive decade of the century.”"

'via Blog this'

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