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A Great Leap Forward
400 pages, 2012
economics & politics
987 booksIn this bold re-examination of the history of U. S. economic growth, Alexander J. Field argues that productive capacity grew dramatically across the Depression years and that this advance provided the foundation for the economic and military success of the United States during the Second World War as well as for the golden age that followed.
Field takes a fresh look at growth data and concludes that behind a backdrop of double-digit unemployment, the 1930s actually experienced very high rates of technological and organizational innovation, fueled by maturing privately funded research and development systems and government-funded build-out of the country’s surface road infrastructure.
This significant new volume in the Yale Series in Economic and Financial History invites a new discussion of the causes and consequences of productivity growth over the last 150 years and on prospects for the future.
In A Great Leap Forward, Alexander J. Field explores the idea that the Great Depression was a time of great technological and economic advancement. Despite the economic hardship, it was a period of significant progress and innovation.
Field's research shows that adversity often sparks innovation. During the Great Depression, businesses were forced to become more efficient and innovative, leading to significant advancements in technology and productivity.
Field argues that government investment in infrastructure and research during the Great Depression played a crucial role in driving economic growth. This challenges the traditional view that government intervention hinders economic progress.
The author also explores the economic impact of World War II. He suggests that the war, while devastating, also contributed to economic growth and technological advancement in the United States.
A Great Leap Forward encourages readers to look into the past to understand the present and future economic trends. Field's analysis of the Great Depression and World War II provides valuable insights into the dynamics of economic growth and innovation.
Quotes 5
Field's book is a remarkable achievement, a big-picture economic history that makes you rethink what you thought you knew.
Robert Solow - Nobel Laureate EconomistField's work is a must-read for anyone interested in understanding the economic history of the 20th century.
Paul Krugman - Economist, ColumnistField's book is a tour de force, a deep dive into the economic history of the United States.
Robert J. Gordon - Macroeconomist, AuthorField's book is a game-changer, a new perspective on the economic history of the United States.
Brad DeLong - Economic HistorianField's book is a revelation, a fresh look at the economic history of the United States.
Tyler Cowen - Economist, BloggerRecommendations
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