The role of the government in the economy changed radically several times during the period of World War I, the 20's, the Great Depression, and World War II. In the first war, the economy became highly planned and centralized with big business leaders doing the planning under government authority. The 20's were an attempt to return to laissez-faire. The Great Depression saw an increase in government regulation of markets but with continued private ownership/direction. Finally, WWII saw a heavily centrally planned effort for large industries directed by the government itself.
What lessons do you think can be learned from these periods for today's challenges? What aspects or parts of this stretch of time do you think have the most in common with today?