1. World War II As an Austrian Economics Illustration Write Large

2. EMPLOYMENT AND UNEMPLOYMENT, FISCAL YEARS 1940-1949 (% of total labor force) Fiscal Year Nondefense Employm’t Defense Employm’t Civilian Unemployed (BLS) Labor Force Residuum 194082.41.815.717.6 194179.48.512.020.6 194267.325.77.032.7 194357.639.43.042.4 194458.440.31.341.6 194559.539.21.340.5 194688.58.92.611.5 194790.95.33.89.1 194890.95.33.99.1 194988.45.26.411.6

3. Commerce Kuznets Year Estimate of 1975 Estimate of 1990 KendrickWartimeRevisedVariant IIIGNP* 1939100.0 1940108.5107.9109.7109.3109.0 108.7 1941125.9126.9128.7125.9121.8121.7119.4 1942142.2150.8145.5131.9126.5118.2108.4 1943161.0178.1160.6148.6132.5117.6102.2 1944172.5192.7172.4135.8122.1105.4 1945169.6189.1171.3139.4125.6114.3 1946149.3153.1156.7151.0146.5144.8 1947148.0148.9153.4154.5148.0147.3 1948154.6154.7160.0155.5153.1152.3 1949154.8 156.9152.6148.5147.5 REAL GROSS NATIONAL PRODUCT (index numbers, 1939 = 100)

4. REAL PERSONAL CONSUMPTION (index numbers, 1939 = 100) Year Commerce 1975 Commerce 1990 KendrickKuznets 1939100.1100.0 1940105.1104.6105.4 1941111.6110.5112.2112.5 1942108.9109.8110.2110.6 1943111.9112.4113.3113.6 1944115.7115.9117.8117.5 1945123.5123.4126.4125.4 1946137.3136.3140.7140.6 1947139.2138.7142.7143.6 1948142.2141.9145.6146.6 1949146.1144.7149.6150.2

5. REAL PERSONAL CONSUM. PER CAPITA (index numbers 1939 = 100) Year Personal Consumption Per Capita (current dollars) Friedman and Schwartz's Deflator Real Personal Consumption Per Capita 1939100.0 1940105.3101.1104.2 1941118.6109.1108.7 1942128.6123.4104.2 1943142.3139.6101.9 1944153.0150.0102.0 1945167.3156.6106.8 1946199.2158.0126.1 1947219.8170.8128.7 1948233.5182.0128.3 1949233.9179.6130.2

6. GDP Growth (BEA), 1930-50

7. Private GDP Growth, 1930-50

8. Macro Movements & Trends, 1929-50

9. Private and Government Fixed Investment, 1940-1950 (bil. current $) Private Domestic Investment Government Investment GrossNet Gross (all kinds) Net (all kinds) Net (all national defense only) Net (national defense structures) Net (national defense equipment) 194013.65.64.42.90.60.50.1 194118.19.110.88.86.73.43.3 194210.40.328.525.024.310.014.3 19436.1-4.039.132.832.95.327.6 19447.8-2.636.627.728.31.926.4 194510.80.124.113.914.21.113.2 194631.118.53.5-7.5-7.4-0.4-7.0 194735.019.44.6-6.1-7.3-0.7-6.6 194848.129.87.0-2.7-5.1-0.5-4.5 194936.916.89.70.9-3.1-0.5-2.6 195054.132.49.81.8-2.9-0.4-2.0

10. Gross Government Fixed Investment, 1940-1950 (billions of current dollars) All National Defense All Defense Structures Defense Industrial Buildings Defense Military Facilities 19404.40.80.60.20.5 194110.87.23.61.32.1 194228.526.010.33.46.5 194339.137.45.81.93.3 194436.635.42.51.21.1 194524.122.71.70.80.9 19463.51.50.30.10.2 19474.60.90.20.10.3 19487.02.00.40.2 19499.72.90.40.2 19509.82.40.50.2

11. Net Fixed Business Capital (billions of 1958 dollars) Year Privately owned GOPOTotal 1940192.00.8192.8 1941195.95.9201.8 1942190.121.0211.1 1943182.436.7219.1 1944178.944.8223.7 1945181.850.2232.0 1946194.535.6230.1 1947211.627.3238.9 1948228.223.2251.4 1949239.519.4258.9 1950251.917.9269.8