Quote:
Originally posted by Flame Of Liberty@Aug 22 2004, 03:54 PM
I give up. Ansers to your questions are in the pdf book i just posted (pages 185-320).
End of the book:
`Economic theory demonstrates that only governmental inflation can generate a boom-and-bust cycle, and that the depression will be prolonged and aggravated by inflationist and other interventionary measures. In contrast to the myth of laissez-faire, we have shown in this book how government intervention generated the unsound boom of the 1920s, and how Hoover’s new departure aggravated the Great Depression by massive measures of interference.
The guilt for the Great Depression must, at long last, be lifted from the shoulders of the free-market economy, and placed where it properly belongs: at the doors of
politicians, bureaucrats, and the mass of “enlightened” economists. And in any other depression, past or future, the story will be the same.`
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granted I didn't read the .pdf (yet) I do have other things on the go (I'm killing time right now but won't have time to finish reading the section)
but what I'm saying is, I like being associated with the new deal, thinking outside the box, and putting mroe people to work, building towards the future when the economy is in a downturn to level out the business cycle. I think gov't interferance is a good thing.
Mind you, it was different back then (I've always said that) and they didn't understand macro-economics (as no one discovered it as of yet, or Keynes was just coming onto the scene I forget the exact years he came onto the scene).
So if you think I want to be like a very popular president who didn't understand how current economics works, then no. If you think I want to be like a popular president who believes in trying to turn around and level out the business cycle then yes.
I don't think those few pages will make me beileve that the building of the interstate highway systems, and public libraries, etc was a bad thing, but then again I keep an open mind when reading so you never know. I'll let you know what I think when I get the chance. It shall be bookmarked so I don't forget (if I do forget remind me every so often either here or in a PM as I DO want to read it)