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The record of the American economy since 1945 offers an embarrassment of riches for the historian, and Wyatt Wells has brought them together in a compact and incisive history. His theme is how greatly many economic circumstances changed-and how many other features remained essentially the same. He shows how throughout the period the United States enjoyed not only the world's largest economy but by most measures its most diverse and sophisticated. The second half of the twentieth century witnessed extraordinary change: the development of entirely new industries, such as television and computers; the decline of established industries, such as steel and textiles; the impact of international trade and competition on growing numbers of Americans. As the boom of the 1950s and 1960s gave way to "stagflation" in the 1970s, the 1980s became a time of extensive reorganization, which in turn laid the foundation for another boom in the 1990s. Still, as Mr. Wells notes, industry remained in private hands; political debate consistently returned to the same issues involving the proper role of government in the economy; and the country remained committed to an open international economic system. American Capitalism examines the development of economic policy (government spending, taxes, regulation, and monetary policy), economic structure (companies, markets, technology, and labor), and ideas about both, explaining the complex interaction of these factors over the past half-century. The book offers an essential short course on American economic development over these years. consistently returned to the same issues involving the proper role of government in the economy; and the country remained committed to an open international economic system. American Capitalism examines the development of economic policy (government spending, taxes, regulation, and monetary policy), economic structure (companies, markets, technology, and labor), and ideas about both, explaining the complex interaction of these factors over the past half-century. The book offers an essential short course on American economic development over these years. consistently returned to the same issues involving the proper role of government in the economy; and the country remained committed to an open international economic system. American Capitalism examines the development of economic policy (government spending, taxes, regulation, and monetary policy), economic structure (companies, markets, technology, and labor), and ideas about both, explaining the complex interaction of these factors over the past half-century. The book offers an essential short course on American economic development over these years. consistently returned to the same issues involving the proper role of government in the economy; and the country remained committed to an open international economic system. American Capitalism examines the development of economic policy (government spending, taxes, regulation, and monetary policy), economic structure (companies, markets, technology, and labor), and ideas about both, explaining the complex interaction of these factors over the past half-century. The book offers an essential short course on American economic development over these years.ast half-century. The book offers an essential short course on American economic development over these years.

Tabla de contenidos provista por Syndetics

• Acknowledgments(p. ix)
• Introduction: The Paradox of American Capitalism(p. 3)
• 1 The Postwar Boom(p. 5)
• The issue of investment
• Planning a new world order
• Reconversion
• Postwar reconstruction abroad
• Contours of prosperity
• The economics of reform
• Conservative economics
• 2 The Go-Go Economy(p. 53)
• The New Economics
• The New Economics in practice
• The go-go stock market
• The service economy
• The New Economics in trouble
• The monetarist challenge
• Nixon's economy
• 3 The Great Stagflation(p. 84)
• A great crash
• A new international regime?
• The new regulation
• The Carter administration
• Deregulation
• The Reagan Revolution
• Beneath the surface
• 4 Adjusting to New Realities(p. 122)
• The dual economy
• Laissez faire?
• The twin deficits
• Reorganization
• Finance
• Third world debt and the issue of development
• The trials of George Bush
• 5 The "New Economy"(p. 164)
• Reform and deficits
• The New Economy
• Globalization
• Issues and campaigns
• 6 The Ways of Wealth(p. 192)
• A Note on Sources(p. 197)
• Index(p. 201)

Reseñas proporcionadas por Syndetics

Library Journal Review

Wells (history, Auburn Univ.; Economist in an Uncertain World) contributes to the "American Way" series of concise, nontechnical volumes on popular topics in American history with this narrative of the post-World War II U.S. economy. He steers an energetic course through a half-century of monetarist vs. Keynesian policies and regulation vs. deregulation, showing how each President grappled with monetary policy, government spending, taxes and labor, and his predecessor's legacy. Learning which economists' voices won out and how sound their predictions and policies proved is the economist's version of court intrigue. The contrasting philosophies of Truman and Eisenhower, Johnson's Great Society, and the flip-flopping policies of the Carter years all make interesting reading. Instead of reaching any dramatic conclusions, this easy read serves as a crash course for the undergraduate and the uninitiated alike. Appropriate for public and academic libraries.-Carol J. Elsen, Univ. of Wisconsin Lib., Whitewater (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

CHOICE Review

This book delivers exactly what its title advertises. It is a history of American capitalism in the postwar period, emphasizing how prosperity has blossomed over these decades. Wells (history, Auburn Univ.) adopts a Schumpeterian perspective, concentrating on the way that industries evolve and mutate in response to economic opportunities. In this respect, Wells does a good job of what he sets out to do. The wide scope of the subject means that many important aspects of economic life--especially the darker side of the American economy--are ignored, e.g., conditions of labor, the environment, and, to a lesser extent, conflict abroad. This book is very accessible, with arguments laid out in a clear temporal sequence with minimal academic jargon. Even so, this reviewer suspects that the book will be less useful to students who want to explore the subject in more detail, either out of curiosity or in developing research papers, because the author does not point to his sources; instead, he offers only a reading list of books and articles for the few topics, without explaining what each of these works might offer. ^BSumming Up: Optional. General readers and undergraduates. M. Perelman California State University, Chico

Booklist Review

Ultimately a country's wealth depends not on what it has but on what it is, declares Wells, an academic. Using U.S. economic development in the second half of the twentieth century as a case study in achieving prosperity, he teaches that capitalism was unchallenged as massive reorganizations accompanied the development of new products and the upgrading of existing ones. Although such efforts also resulted in the dislocation of workers, markets, and capital, the author contends that this approach is the only way to avoid economic stagnation. Radical changes in the U.S. economy occurred during the period 1945-73, when the size of the workforce and GDP made extraordinary gains with intensive application of mass-production techniques. The economic slow-down during the 1970s forced companies into vast reorganizations and radical new business practices, and by the late 1990s new operating systems requiring flexibility were developed for broad-based growth. Wells cautions that continued prosperity requires the acceptance of inevitable dislocations and society's support of innovative entrepreneurs. --Mary Whaley Copyright 2003 Booklist

Notas de autor provistas por Syndetics

Wyatt Wells is distinguished research associate professor of history at Auburn University, Montgomery.