U.S. Economy Since World War II

economy is the largest in the world but has the most unequal distribution of wealth among all the developed countries of the world. The major reason for this inequality is that since the Second World War most U.S. governments have tended to favor the wealthy and the corporate sector while formulating their economic policies. Such "rich friendly" policies have become more pronounced since the early 1980s and continue to this day to the detriment of the society and the economy. This essay gives an overview of the post-World War II U.S. economy and outlines the ways in which various U.S. administrations have enacted policies favoring the corporate sector and the wealthy.

Background

The 18th century British economist Adam Smith advocated the benefits of a Laissez faire economy in his The Wealth of Nations (1776) by proclaiming that a "free economy" in which every individual...
[ View Full Essay]