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It’s not at all agreed upon that the New Deal helped the recovery. It’s just as much argued that it prolonged the Great Depression. It’s baffling to me that you
by dreta 10y ago
It’s not at all agreed upon that the New Deal helped the recovery. It’s just as much argued that it prolonged the Great Depression. It’s baffling to me that you’d state that like it’s a historical fact.
- eli_gottlieb 10y agoIt's agreed upon among everyone who wasn't in the Mount Pelerin Society.
- moyta 10y agoHow else do you rebuild an economy that just had a huge bubble pop in one major industry, has the dust bowl going on, and has knockon effects destroying the entirety of peoples savings? Greece tried to tighten their belt and tax their way out of it, just led to compounding double digit economic contraction. Instead, when we have bubbles pop, we usually inject money into the economy to keep economic carnage like that at bay, and in the 1930s we created a jobs program so as to put those funds to effective use. This has worked well for the US, as compared to Greece.
- dreta 10y agoYou don’t need government investment to make that happen. The issue was the lack of money supply, which was solved partially by Roosevelt’s ban on owning gold, but partially by people fleeing Europe, which allowed the federal government to print more. This has nothing to do with Sanders’ policies though. Sanders’ policies are a continuation of everything wrong with the New Deal, namely things like the minimum wage and government-supported worker unions, which prevent hiring of low-skilled workers, usually from the lower class, and make hiring overall a risky process, leading to less hires, higher unemployment, and corporations outsourcing abroad.