[FoRK] Fwd: Misplaced hero worship: let the invocations begin...

Stephen Williams sdw at lig.net
Wed Aug 27 01:26:00 PDT 2008


Excellent paper.  Great formulas!  I will study that.  So FDR finally 
taught us a lesson, we were too thick to see it until now.  It was my 
impression that we had learned quite a bit about what not to do.

I note the parallel between the lack of anti-trust enforcement then and 
now.  Less strictly needed now perhaps just because of good competition 
in most areas and well-internalized rules against anti-competitive 
practices mostly.  But still.

I also note that it was two specific policies that they say caused the 
extension of the Depression (allowing collusion and forcing extra-high 
salaries), neither of which had to do with social support spending.  
Which is not to totally defend other practices, they are just not listed 
as significantly supporting your point.

sdw

Jeff Bone wrote:
>     
> Owen,
>
> Saving you the effort.
>
> jb
>
>
> Begin forwarded message:
>
>>
>> So the cyclic invocations of the great FDR began again on Saturday 
>> with the Obama / Biden --- or should I say "President Biden and 
>> Barack America" --- joint appearance.
>>
>> Thing is, FDR's policies increased length of the Great Depression, 
>> perhaps even doubling it.
>>
>>  http://www.scienceblog.com/cms/node/3643
>>
>>  http://www.econ.yale.edu/seminars/echist/eh02/ohanian-021008.pdf
>>
>> jb
>
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