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Daily Archive for February 4th, 2009

Why Did the Great Depression Last So Long?

Posted in Corporatism on Feb 4th, 2009

Some more evidence: Why wasn’t the Depression followed by a vigorous recovery, like every other cycle? It should have been. The economic fundamentals that drive all expansions were very favorable during the New Deal. Productivity grew very rapidly after 1933, the price level was stable, real interest rates were low, and liquidity was plentiful. We […]

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How to Justify Spending Australia

Posted in Politics, You Can't Have it Both Ways on Feb 4th, 2009

“that even three months ago, most economists would not have predicted the economy was “in as bad of a situation as we are in right now. “ – that was the President’s justification for why the stimulus spending bill has now topped $900 billion. That amount, by the way, is an increase in spending equivalent […]

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