The Great Depression is the " defining moment" to which most historians, economists, and political scientists connect the origins of the economic and social policies that have characterized American government in the second half of the twentieth century. In the most comprehensive collection of essays available on these topics, The Defining Moment evaluates the extent to which the Great Depression was a watershed period in the history of the American economy. This volume concludes that a large role of today's government and its methods of intervention derive from the crisis years of the 1930s. Sixty years later, the basic imprint of the defining moment is still visible.

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