Tuesday, November 18, 2008

Why They Hate the Great Depression:

I know, I know.  I don't know a damn thing about economics.  Luckily I blog so it doesn't matter.  Here is why rich people hate the Great Depression: 1) The Business Class screwed up royally and wrecked the economy and a lot of rich people got less rich and even went broke; 2) Interventionist state policy actually worked to fix it:

Of the various sins committed by Roosevelt, Keynes et al, it is the fact that their policies worked that is the scaries to the "conservatives."  Note how a return to more "orthodox" (read: non-interventionist return to 20's-style) slows the recovery.  
If you don't believe me, ask Brad Delong, he's the guy I stole this chart from.