Economics prof and major co-write article on the Great Depression and WWII

The cover story in the Winter 2013 issue of The Independent Review, "The Reality of the Wartime Economy: More Historical Evidence on Whether World War II Ended the Great Depression," was written by Dana Professor of Economics Steven Horwitz and Michael McPhillips '11.  The collaborative research project started in Dr. Horwitz's senior seminar on Great Depression and then continued as an independent study.

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Abstract:  The notion that World War II is responsible for ending the Great Depression has met growing skepticism among economic historians. Although the wartime economy saw increases in conventional measures of macroeconomic performance, the letters, journals, and newspapers of the era indicate years of continued material deprivation and hardship, rather than rising living standards for the average American.