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In this unique volume, Rick Szostak takes an innovative approach toward analyzing the Great Depression of the 1930s. Most of the literature focuses on the movement in aggregate variables, but Szostak provides evidence primarily at the sectoral level, being careful to show that this argument is consistent with aggregate data. Combining a fresh theoretical viewpoint and industry-level analysis, Szostak contends that an abundance of process technology made it possible for industry to produce the existing range of products with a much smaller labor input, while a shortage of new product...