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" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
So, cato is a libertarian site. Very conservative. and far from even handed.
So, you believe in the Reagan method, where a moderately bad economy resulted in simply lowering tax rates. And a year later, we had achieved the highest ue rate in US history.
Or the great depression, where from 1929 to 1933 we watched the ue rate went from 3% to 25% with absolutely no gov intervention. Gee, that worked well.
So, maybe I should get an article from moveon.org. Equally nonsense, but then, since I value integrity, I think not.
" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
By the end of the war people had money. The money was from government spending during the war. With the war over and products now available people spent their war-time and demobilization money.
The bomb had little to do with the economy but a great deal to do with the end of the war, and people wanting to get on to a peacetime life. Any idea of how much money the government put into that wartime economy?
FDR's policies prolonged Depression by 7 years, UCLA economists calculate
"After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years."
FDR's policies prolonged Depression by 7 years, UCLA economists calculate
"After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years."
The problem they have is that the ue rate went from 25% in 1934 to under 10% in 1941. That would be the fastest decline in the ue rate in history. Over 15% in 7 years.
FDR didn't spend enough, it took wartime spending not New Deal spending. Secondly FDR was afraid the nation was recovering too fast and could lead to another recession so he reduced the spending and we had another recession. Today, do we use the conservative balance the budget cure or the liberal government spending method for a recession?" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
By the end of the war people had money. The money was from government spending during the war. With the war over and products now available people spent their war-time and demobilization money.
The bomb had little to do with the economy but a great deal to do with the end of the war, and people wanting to get on to a peacetime life. Any idea of how much money the government put into that wartime economy?
So how come this "stimulus" created record UE from (1930 actually)1933-1940?
FDR didn't spend enough, it took wartime spending not New Deal spending. Secondly FDR was afraid the nation was recovering too fast and could lead to another recession so he reduced the spending and we had another recession. Today, do we use the conservative balance the budget cure or the liberal government spending method for a recession?" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
By the end of the war people had money. The money was from government spending during the war. With the war over and products now available people spent their war-time and demobilization money.
The bomb had little to do with the economy but a great deal to do with the end of the war, and people wanting to get on to a peacetime life. Any idea of how much money the government put into that wartime economy?
So how come this "stimulus" created record UE from (1930 actually)1933-1940?
Lessons we are learning the hard way but learning.
.
Few agree with you. Very few.
We don't need booms, we need a reliable safe economy people can rely on.FDR didn't spend enough, it took wartime spending not New Deal spending. Secondly FDR was afraid the nation was recovering too fast and could lead to another recession so he reduced the spending and we had another recession. Today, do we use the conservative balance the budget cure or the liberal government spending method for a recession?" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
By the end of the war people had money. The money was from government spending during the war. With the war over and products now available people spent their war-time and demobilization money.
The bomb had little to do with the economy but a great deal to do with the end of the war, and people wanting to get on to a peacetime life. Any idea of how much money the government put into that wartime economy?
So how come this "stimulus" created record UE from (1930 actually)1933-1940?
Lessons we are learning the hard way but learning.
Obama spent MORE money than All previous President combined! Where's the Obama Boom?
Instead, why do we have a horrible, rickety economy on the verge of the biggest collapse ever?
Wages down, labor force participation down, debt way way way up, Obama also the biggest predatory lender on the planet snaring a generation of your people in his debt trap
FDR didn't spend enough, it took wartime spending not New Deal spending. Secondly FDR was afraid the nation was recovering too fast and could lead to another recession so he reduced the spending and we had another recession. Today, do we use the conservative balance the budget cure or the liberal government spending method for a recession?" the real economic lesson to come out of the World War II era was not that the conscription of nearly a fifth of the labor force into grueling and dangerous working conditions abroad and the imposition of a command economy at home — complete with rationing, price controls, and government allocation of many aspects of life — could bring unemployment down. Soviet-style command economies had many problems, but unemployment was not typically one of them.
Instead, the true lesson from the period can be ascertained from the events of 1945-1947 when the largest economic “stimulus” in American history was dramatically and quickly unwound, months before most people anticipated it (because the atomic bomb brought a sudden unexpected end to the war). No other episode more clearly supports the notion that the best economic stimulus is for the government to get out of the way."
Policy Report: Stimulus by Spending Cuts: Lessons from 1946
By the end of the war people had money. The money was from government spending during the war. With the war over and products now available people spent their war-time and demobilization money.
The bomb had little to do with the economy but a great deal to do with the end of the war, and people wanting to get on to a peacetime life. Any idea of how much money the government put into that wartime economy?
So how come this "stimulus" created record UE from (1930 actually)1933-1940?
Lessons we are learning the hard way but learning.
FDR's policies prolonged Depression by 7 years, UCLA economists calculate
"After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years."
The problem they have is that the ue rate went from 25% in 1934 to under 10% in 1941. That would be the fastest decline in the ue rate in history. Over 15% in 7 years.
A fucking monkey could have done far better by doing nothing. The only reason it even dropped down to 10% was this:
"FDR just sent me a "thank you" Card for rescuing the US economy"
