[pdonis]

> The unusually high growth in that period was during an _expanding_ government role (and wider union membership and 90% tax rate for the extreme brackets).

And also during a unique period in history, when the US economy was the only one in the world not devastated by World War II and when there were huge new markets opening up that made corporations willing to pay high wages and taxes in order to capture market share. By the 1970s that was ending as markets saturated and other countries rebuilt their economies and caught up.

[TomMckenny]

Absolutely true. I was just dispelling the alternative history where the depression was due to over regulation and the post war boom was due to removing regulation.

And incidentally dispelling the idea that, where necessary, adequate oversight does not kill an economy.