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Read the book, and then come back here and try to disprove the historical facts. It'll be a l-o-n-g wait, because you won't be able to.
Why does Amity Schlaes use the NYSE stock average instead of GDP as a measure of the US economy in her book? Why does she count people employed by government relief programs as not being employed? Answer: Can't make her point unless she rigs the data. Your whole little right-wing FDR-revisionist movement is a discredited farce. Guess you hadn't heard...
Exactly... see how how vicious the attacks are when they're called on it?
More...
LOL. Did you read the link? Austrians right -- avoid bubbles. But then, Austrians wrong -- economy does not fix itself. By the way, in my past, von Mises and Hayek were covered in 200-level courses. How this guy got TEN YEARS beyond graduation before hearing of them is beyond me...
Why does Amity Schlaes use the NYSE stock average instead of GDP as a measure of the US economy in her book? Why does she count people employed by government relief programs as not being employed? Answer: Can't make her point unless she rigs the data. Your whole little right-wing FDR-revisionist movement is a discredited farce. Guess you hadn't heard...
Having a hard time determining the author of the book, saggy? Here it is, again...
“Admirers of FDR credit his New Deal with restoring the American economy after the disastrous contraction of 1929—33. Truth to tell–as Powell demonstrates without a shadow of a doubt–the New Deal hampered recovery from the contraction, prolonged and added to unemployment, and set the stage for ever more intrusive and costly government. Powell’s analysis is thoroughly documented, relying on an impressive variety of popular and academic literature both contemporary and historical.” –Milton Friedman, Nobel Laureate, Hoover Institution
“There is a critical and often forgotten difference between disaster and tragedy. Disasters happen to us all, no matter what we do. Tragedies are brought upon ourselves by hubris. The Depression of the 1930s would have been a brief disaster if it hadn’t been for the national tragedy of the New Deal. Jim Powell has proven this.” –P.J. O’Rourke, author of Parliament of Whores and Eat the Rich
“The material laid out in this book desperately needs to be available to a much wider audience than the ranks of professional economists and economic historians, if policy confusion similar to the New Deal is to be avoided in the future.” –James M. Buchanan, Nobel Laureate, George Mason University
“Jim Powell is one tough-minded historian, willing to let the chips fall where they may. That’s a rare quality these days, hence more valuable than ever. He lets the history do the talking.” –David Landes, Professor of History Emeritus, Harvard University
LOL. Did you read the link? Austrians right -- avoid bubbles. But then, Austrians wrong -- economy does not fix itself. By the way, in my past, von Mises and Hayek were covered in 200-level courses. How this guy got TEN YEARS beyond graduation before hearing of them is beyond me...
Wow... that vitriol is really unhinging your mind, isn't it? If you had read carefully enough, you would not have reached those conclusions.
Having a hard time determining the author of the book, saggy? Here it is, again...
Powell is a lightweight. Another CATO C-student. Have you read his book on Teddy Roosevelt? Turns out he was an idiot, too. But whther you have ever heard of her or not, Amity Shlaes was the queen of your little FDR-revisionist clique, and her critical death took this whole example of historical malinvestment down with it. You're trying to put a saddle on a dead horse.
Wow... that vitriol is really unhinging your mind, isn't it? If you had read carefully enough, you would not have reached those conclusions.
What other conclusion was there to reach from...
While Barron's acknowledges that the Austrian school is right about how to avoid depressions, it doesn't agree with the other main tenet of the Austrians: that the quickest way to get out of a depression is to let the bad investments clear themselves out of the markets by letting the companies which made dumb decisions fail.
Saggy - the broken-window Keynsian theory is a little outdated. Pull your head out of your tenure and expand your knowledge.
The broken window parable is Bastiat's contribution to the world of children's fairy tales. What happens when the shopkeeper has had no business for weeks and lacks the funds either to fix the window or buy a book or new pair of shoes? How does Bastiat account for a government then paying the glazier to make the needed repairs?
Last edited by saganista; 10-19-2009 at 09:01 PM..
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