More: The Politics Of Economic Growth In Postwar America

E-Book Overview

Americans have not always embraced economic growth, nor has the U.S. economy grown consistently through the 20th century. But overall, Collins's wonderfully illuminating, engrossing analysis illustrates, through the century there was a move toward endorsing increasingly exuberant expansion. Looking at history through the lens of economic growth, Collins puts postwar American society in a whole new perspective. A professor of history at the University of Missouri-Columbia, Collins tells the story of American economic growth as it waxed and waned and waxed again from the New Deal through the Clinton administration. Early on, he argues, many Americans questioned whether growth was possible or even desirable in a mature capitalist economy. WWII, however, set the country's economic engine in motion, and after WWII, "growthmanship" gained speed, reaching an apex in Kennedy and Johnson's "growth liberalism. Economic expansion backslid between 1973 and 1985, as heavy government investment in Vietnam and the Great Society programs led to rapid inflation; price stability took priority. Nixon's "progressive conservativism" unsuccessfully tried to rekindle enthusiasm for robust economic growth by linking it to streamlined government and the moral rejuvenation of America. In the mid-1980s, Reagan's supply-side tactics succeeded in stealing the growth issue from the Democrats, repackaging it and recasting the GOP as the party of economic growth. Only then did Americans seemingly overcome their ambivalence about abundance. More recently, Clinton's eclectic and pragmatic approach to sustaining growth has put limits on it. Brilliantly original, this study demonstrates how different groups - from liberals to Cold Warriors - used economic growth to further their own ends, sometimes with disastrous or unforeseen consequences.

---

E-Book Content