Beginning with Woodrow Wilson and U.S. entry into World War I and closing with the Great Depression, The Perils of Prosperity traces the transformation of America from an agrarian, moralistic, isolationist nation into a liberal, industrialized power involved in foreign affairs in spite of itself.

William E. Leuchtenburg's lively yet balanced account of this hotly debated era in American history has been a standard text for many years. This substantial revision gives greater weight to the roles of women and minorities in the great changes of the era and adds new insights into literature, the arts, and technology in daily life. He has also updated the lists of important dates and resources for further reading.

€œThis book gives us a rare opportunity to enjoy the matured interpretation of an American Historian who has returned to the story and seen how recent decades have added meaning and vividness to this epoch of our history.€€"Daniel J. Boorstin, from the Preface