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Yes, http://en.wikipedia.org/wiki/1921_recession http://en.wikipedia.org/wiki/1921_recession Historian Thomas Woods argues that President Harding's laissez fai
by mynameishere 17y ago
Yes, http://en.wikipedia.org/wiki/1921_recession http://en.wikipedia.org/wiki/1921_recession
Historian Thomas Woods argues that President Harding's laissez faire economic policies during the 1920/21 recession, combined with a coordinated aggressive policy of rapid government downsizing, had a direct influence (mostly through intentional non-influence) on the rapid and widespread private-sector recovery
- cromulent 17y agoThanks, that was what I was looking for. "Woods...believes it to be a watershed case proving that free markets adjust prices and supplies much more efficiently than any government coordinated action, and that Keynesian philosophy ignores the '21 episode because it suggests government intervention is not required in such crises."