Some events have had such profound and enduring impact on subsequent history that they emerge from the past as pivotal events, forming a definable break between what came before and what followed. The Great Depression of the 1930s stands out as such an event. Lasting for a decade, the depression and the enormous social, economic, and political changes it wrought altered the course of the entire remaining 20th century in ways that no one could have anticipated even as the 1920s were ending. During the 1920s, American politicians and the general populace as well may have been especially myopic about foreseeing the likelihood of the coming depression let alone its enduring effects. P reoccupied with that decade’s economic surge, t hey appear in re t rospect to have enthusiastically embraced the faith that the historic cycle of economic boom and bust had finally been ove rcome and that the new prosperity would last forever. [download]
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