Did Keynesian economic theory singularly assist in stabilizing the American post-World War II economy?

by callipygia

During the Golden Age of Capitalism epoch, after 1945 to the late 70's and early 80's.

Also, was Keynesian philosophy so influential insofar it effected most of the policies and fostered economic growth in the United States, or are other factors, such as labor unions, productivity, and military spending responsible for the preponderance of growth?

Thank you.

mrpen7

I would refer to Robert Higg's Depression, War, and Cold War

edit: here's the pdf

Specifically ch.4,5,6, and 8

soundofreedom

I think the best source to look into this is the rise of and adherence to the Phillips Curve (an inverse relationship between unemployment and inflation.) Milton Friedman won the Nobel prize in economics for statistically debunking the idea that large amounts of inflation was good for the economy. There is actually a really good podcast covering this subject called The Undercover Economist Strikes Back from the Cato Event Podcast Channel on iTunes