How the United States Traded Factories for Finance in the Seventies

92250 As the report declares the structure of this book enables readers to follow the transformation of the American economy beginning the 20th century and understand the relevance of the two significant events including the Great Depression and World War II. The author quickly and efficiently connects the unexpected consequences of these two events to the Keynesian economics, monetary and fiscal policy for regulating unemployment, and response of states to the 1930s global financial crisis. For instance, chapter one of the book titled the Great Compression introduces the readers to divisive approach to economic issues and events that followed the world’s Great Depreciation. Although the chapter’s entire discussion centers on the Great Depression, the author called the chapter “great compression” perhaps to illustrate her the irony of the events that took place in the American soil starting 1945. Stein utilized this section to justify what she insinuated that historians would better understand the current financial crisis by first understanding the American economy in the 1970s. From the research findings the life most Americans has improved thanks to the effects of the Great Depression as they slowly forgot that they suffered because of the same world depression. The author disagreed with what had been said earlier on by other authors concerning likely effects of the Second World War.