In my study of the Great Depression, I argued that the Depression could be seen as resulting from governments doing too little, or too much. In a laissez-faire world the Great Depression would not have happened, nor would it have happened if governments took as much responsibility for AD stabilization as they do today (and [...]
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This will cause dyspepsia in certain quarters: Hoover's pro-labor stance helped cause Great Depression, UCLA economist saysPro-labor policies pushed by President Herbert Hoover after the stock market crash of 1929 accounted for clos... Read Post
It should be no surprise that government policy is of great consequence to investment returns. As a result of the Credit Crisis this is perhaps more true than at any time since the Great Depression in the 1930s. Federal tax and spen... Read Post
Conventional wisdom tends to treat President Hoover as a clueless advocate of laissez faire who refused to stimulate the economy in the dramatic downturn. Franklin Roosevelt, on the other hand, was the heroic leader who both saved t... Read Post