The history of the U.S. economy in the 20th century is far too interesting - and far too important to our future - to be dismissed with just a few stock explanations. These 10 fast-paced lectures introduce you to vital economic lessons learned in the last century to provide invaluable guidance for understanding the current economy. Each lecture focuses exclusively on one decade to provide you with a clear understanding of economic developments and outside influences on the U.S. economy.
In some cases, you'll examine well-defined events like the creation of the Federal Reserve or the war in Vietnam. In other lectures, you'll explore larger societal shifts, such as the evolving role of women in the economy and changing consumption patterns. This decade-by-decade approach takes you deep inside America's memorable economic milestones. Among these: the U.S. trade surplus during World War I; the rise of the automobile industry in the 1920s; the mismanagement of monetary policy that led to the Great Depression; the Employment Act of 1946, which gave the federal government the responsibility to maintain high employment and economic growth; the strangling inflation of the 1970s and early 1980s; and more.
Professor Taylor takes care to ensure that you can follow this course clearly regardless of your knowledge of economics. He uses historical examples and quotes from economists and other notables, and his use of economic reasoning often brings surprising insight.
Disclaimer: Please note that this recording may include references to supplemental texts or print references that are not essential to the program and not supplied with your purchase.
©1996 The Teaching Company, LLC (P)1996 The Great Courses
I have read many books that weave in and out of this topic, but it is nice to hear a decade-by-decade walk-through. It is detail-rich (for a fast overview from 30,000 feet, as the saying goes), with good meaningful stats blended in, all delivered in a fast cadence by the professor. Note, Glass-Steagal was still in effect when this was produced, making it between 10 and 15 years old. Thus, the kinds of reflections and additional insights that might have appeared based on lessons we have learned since then is not there. But, that wasn't my goal here anyway.
I am SO happy audible acquired this series! My wish list is stuffed with them.
This audio program is excellent context for viewing current US economy. Program is very interesting and easy to listen to. If you are ‘one of those people’ who think everything is going to hell in a hand basket today, this is a must listen, we have been there before.
This was a riveting look at America's recent economic history. Taylor is really good at providing interesting statistics to illuminate trends. He disabuses the listener of common economic fallacies and inculcates the economic way of thinking about a host of important issues. A major theme throughout the course is the dramatic increase in the size of government over the century. Taylor analyzes different policies and gives the consensus economist view on most of them. I highly recommend this course.
Pre-financial crisis, so it was a little odd.
From 1900s to WWII was the better half. 1960s-1980s were too compressed
Lecturer is very enthusiast and often breathless. Loves his material that's for sure.
Each lecture flies by on a medium commute.
This book I think is great in not only putting the US economy context, but also for showing how economic choices and policies effect later ones.
Having no formal training in economics I chose to take it in chunks. Luckily the author breaks it down into decades.
Better than any econ class I had in school both grad and undergrad
All of it
It's really too bad the publisher couldn't find a better person to narrate the book. I'm a big fan of financial hiatory but this narrator is just terrible. Don't bother.
I suggest prospective listeners sample Prof. Taylor's course to see if you can keep up with his frantic style. The shouting loudness I could turn down, but though I tried to run this course at 75% speed to slow it down some, the audio was echoing and dissonant, so that didn't work. Taylor's press to speak is so desperate that often he actually can't seem to catch his breath. It's hard to understand dense and complex and numerical material at that fast a speed, and it gives me a headache. I'm surprised the TGC people let him tear along at this pace: he has five economics courses in their series. I had to stop these lectures early-- I blame the production people for not calming and slowing their lecturer.
He spews a lot of information, but not in a way that is easy to retain. I had trouble following his logic in several cases. It's clear that he has at least a slight political bias.
The professor gives a decade by decade review of economic events and policies in the 20th century. He makes some interesting points along the way. But he speaks very fast and seems more interested in coverage than integration. However he does end with some remarks on what we've learned about managing the economy and problems ahead, which I found to be thought provoking.
Two minor complaints: 1) the course seems unaware of events in the 21st century. Is it really that old? 2) I know he must understand the concept of compound interest, but he repeatedly speaks as if he doesn't. 2% growth for 25 years results in cumulative growth of 64%, not 50%. It doesn't really matter to the narrative, but it bugged me nonetheless.
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