Economists and historians view the events of the 1920s, the stock
market boom and crash, the Great Depression and the New Deal, as
being largely independent. This work presents an integrated,
empirically-consistent view of this important period arguing that
all of these events can be traced back to a paradigm technology
shock, namely the electrification of U.S. industry from 1910 to
1926. The author goes from electrification through the stock market
boom to the tariffs of the late 20s to the stock market crash and
depression followed by the National Industrial Recovery Act in
1933.
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