[themsrsdude]

Originally posted by Patroklos
No more different than the 1950s and 1990s. IN terms of policy actions the government could take, the economy is more similar in 1950 and 1990 than in 1950 and 1920. For example, the government established a mandatory minimum wage in 1938. So in 1930, no government could mandate a raise on all bottom wages. in 1950 and 1990 they could.

Who suggested excluding the 40's? If they had, wouldn't the extrordinary circumstances of the 40's warrent exclusion using your own standard above of being non standard? OzzyK did, or at least he only tried to compare 1920's boom to 1930's collapse.

And the author began in 1948, which was after the wartime boom, and during or right after the recession of the late 40's.