Labels: Economics
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
Well, duh. True free market economists have have been saying this since the 1930s. But to have economists at a liberal university come around after only seven decades is certainly noteworthy.
After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
10/20/2008 |
1 Comments:
noteworthy indeed.. =)
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