That is the standard answer in the economic literature. What would have happened in the post-World War II American economy without the federal government to prop up the job market?
It's always some prop, isn't it? This idea that capitalism would have failed 10, 40, 100, 150 years ago had it not been for some special circumstance isn't very helpful. It keeps barrelling on. Capitalism could probably live with a re-routed Gulf Stream and a Europe under deep freeze. Know the enemy, man.
Doug
