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Originally Posted by u-Bob
5. GregE: WWII and government intervention was not what ended the great depression. The whole reason the depression of 1929 ever became "Great" is because of government intervention.
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Nonsense. FDR was still president and (most of) his policies were still in effect when the depression ended. Full employment ended the depression.
Quote:
Originally Posted by u-Bob
Whoever heard about the depression of 1920? No one. Why? because it took less than 18 months to recover. Why? because there was hardly any government intervention.
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And yet after more than three years of inaction by the Hoover administration the Great Depression only deepened.
The post WWI depression (of 1920) was a different animal.
Quote:
Originally Posted by u-Bob
6. instead of typing some more I'll let Keynes defend government spending and Hayek defend the free market:
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Come 2012 whoever the republicans nominate will be getting the rubber glove treatment as well.