It may be difficult to remember that the American economy ever fell to the bottom of the most severe and protracted depression in the history of capitalism, during the 1930s. The depression decade has almost been pushed into the backyard of history away from the loud and sustained paeans of adulations about the fabulous production of the 1950s. No wonder: it can hardly be pointed to as a strong argument in praise of American capitalism, especially since this was the last decade of a peacetime economy. The performance was scarcely impressive.
"The Promise of American Life" has not been