(Hint: It Wasnt the New Deal) Warning! All liberals ignore this article. It will only cause you heartburn and perhaps stir up the ulcers you have due to your life of negativity. More of the historical fabrication of FDR's presidency can be read @ http://dailysignal.com/2014/09/28/new-deal-end-great-depression/
What Really Ended the Great Depression – Redux This is a continuation of a previous post by this author. It seems to me that he made some very good points to include the large increase in production due to Lend Lease and then WWII. That and the shrinkage of government afterward. Read more @ http://dailysignal.com/2014/10/18/truth-great-depression/
Interesting to read an economists view on history. I don't know about America, but in Europe excessive government spending ended the depression for us. This happened in Germany with Hitler, because he spend money like a crazy person, and for most countries because of WW2. The lack of economic growth in the private sector had to be replaced by the government, and WW2 forced most countries to spend money on an excessive scale. I like that he criticizes my profession but doesn't accept if other professions criticize economists. Since I am a historian, I think I can address this question. The problem is the complexity in history and if the history books explained every facet of why WW2 started, kids wouldn't understand any of it. It's simpler by saying, "Germany invaded Poland". At least that's what we hope a 10 year old will understand and remember. The new deal is in that category as well. It was one step, but not the only step, and the answer is way more complex. But he ignores countries outside of the US (and Japan) who had the same problem. Germany had in 1933 over 20% unemployment; 1938 the were missing 1 million workers because of excessive government spending. Austria had a strict No-deficit policy. 1933 over 20% unemployment; 1938 just under 20%. The recovery went no where. You have in history usually multiple countries with the same issue and two dozen solutions and you can actually see the results. Historians (that's what we were thought in college) should look at as much evidence as possible and then try to understand and then reconstruct to explain. History books for 12 year olds are not made for adults, and they shouldn't be, because adults should have the background to understand greater complexities...
History books for 12 year olds are not made for adults, and they shouldn't be, because adults should have the background to understand greater complexities... Indeed. It's a shame that that truth isn't widely practised.
you had me until "shrinkage of government". WWII brought us out of the recession. Yes, the massive government spending during WWII along with arms sales to foreign nations employed millions. Later, flush with money and a new found middle class the building continued at a frantic pace, again employing millions. Even the billions we spent on the Marshall Plan and forgiving the debts of every warring nation except Finland didn't make a dent in our expansion. The middle class grew until the 80's when stagnation started. What happened in the 80's I wonder? Business took off again in the 90's but workers wages were still stagnant. The final nail in the coffin for the middle class was the final gut of Glass-Steagle in 1999 by Clinton. FDR provided hope and a future to a suffering people. They were fed and provided work in every way possible but FDR still had to contend with Congress and angry, greedy business until WWII. Much of our infrastructure was built in the 30's.
Piece of Cake. Actually, Moore's claims are easily refuted, and the New Deal's success evident, from historical economic statistics readily available from the U.S. Census. http://www.niftimal.com/politics/economics/moore-vs-history.pdf
