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This book examines a decade of crucial importance in American economic history by studying its significant developments: the dampening of the business cycle, the uneven pace of economic growth, technological breakthroughs and their impact on investment, shifts in the U. S. balance of payments, and the phenomenon of an abundant society plauged with pockets of poverty.

?This thoughtful volume is a praiseworthy effort to combine traditional economic history, with its narrative approach, and newer scholarship emphasizing quantitative evidence and mathematical models.?-American Historical Review

This text chronicles the growth of local, state and federal government over the last 100 years and explains this growth by arguing that public and social acceptance (even demand for) government intervention has allowed for a strong government role at all levels of the economy.