LECTURE 6 - THE GREAT TRANSFORMATION - 1935 - 1949
Can a country grow too fast in a short span of time? The twin catastrophes of the Great Depression and World War II utterly transformed America. In just 20 years, the structure of government, focus of the economy, tax policy, and America’s global position fundamentally altered. A country with a tiny tax base, miniscule military, isolationist politics and nascent federal government became a global super power with the largest economy in the world and a massive and growing federal government. Much of what we take as ‘America’ today is actually a reflection of the country that was created during these few years.
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