The latest “Economics 101” video released today by the Center for Freedom and Prosperity Foundation (CF&P), narrated by Michelle Fields, explains that most politicians have learned the wrong lessons from the Great Depression. Entitled, “The New Deal Was A Failure: Hoover and FDR Prolonged the Great Depression with Big Government,” the video illuminates, through a timely economic history lesson, the dangers of President Obama’s insistence on following in the footsteps of FDR.
read more...This mini-documentary from the Center for Freedom and Prosperity Foundation explains how the statist policies of Presidents Hoover and Roosevelt lengthened and deepened the Great Depression. The video also briefly explains how reductions in the burden of government spending helped the economy recover from a deep recession after World War I and to grow after World War II.
read more...I’ve pointed out on several occasions that Herbert Hoover was a big-spending Keynesian. Heck, Hoover was pursuing failed Keynesian policies several years before Keynes produced his most well-known book, The General Theory. Hoover’s big spending was so pronounced that it generated this cartoon in 1932. Sadly, this cartoon applies just as well today. Except Bush […]
read more...I had some fun at Andrew Sullivan’s expense a couple of weeks ago, mocking him for asserting that spending cuts today would be repeating the mistakes of Herbert Hoover. That was a rather odd thing for him to write since Hoover boosted the burden of government spending by 47 percent in just four years. Since […]
read more...Even though he’s become rather partisan in recent years, I still enjoy an occasional visit to Andrew Sullivan’s blog. But I was rather amused last night when I read one of his posts, in which he was discussing whether government spending helps or hurts economic performance. He took the view that a bigger public sector […]
read more...In a previous post, I commented on a Wall Street Journal column by former Senator Phil Gramm, calling attention to evidence that the economy is under-performing compared to what happened after previous recessions. This is an important issue, particularly when you compare the economy’s tepid performance today with the strong recovery following the implementation of […]
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