And So I Go: Yesterday, Today and Tomorrow

Posts Tagged ‘FDR programs prolong Great Depression

Government Stupidity – Gov’t insanity: You won’t believe whatthis former Obama economic advisor just said.

From Economic Policy Journal:

Greg Mankiw points to this Larry Summers comment on the Charlie Rose Show:

Never forget, never forget, and I think it’s very important for Democrats especially to remember this, that if Hitler had not come along, Franklin Roosevelt would have left office in 1941 with an unemployment rate in excess of 15 percent and an economic recovery strategy that had basically failed.

Economist Robert Higgs has ripped apart the notion that war is good for an economy. And in particular, he has focused on World War II. On release of Higgs’ book, Depression, War, and Cold War: Challenging the Myths of Conflict and Prosperity, the publisher wrote:

[Higgs] provides clear evidence FDR’’ New Deal actually prolonged the Great Depression and that World War II did nothing to create prosperity…

Go to the site and read the entire article.  This is an eye opener.  Sometimes I am just too upset to read an article all at once and this was one of those times.  BB

 


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