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chitoryu12 posted:I'd love their justification for how the New Deal started the Great Depression in 1933, 4 years after a gigantic banking crash. New Deal didn't start the great depression. Consensus among economists for ~40+ years has been that the great depression was caused by deflationary monetary policy, namely, the bank of France and the federal reserve buying up gold. (Scott Sumner has a very good book on this.) The stock market crash was a symptom, not a cause of the Great Depression. C.f. other stock market crashes (mid-80s for example) that didn't cause a depression. The problem with the new deal is the permanent expansion of the federal bureaucracy and regulatory state. I'm not a libertarian so I'm not fully familiar with their arguments about it. FDR had a number of excesses beyond just internment of Japanese. At no point did he really believe in limits to his own authority. He tried to pack the supreme court. He ran for office four times. He was constantly pushing against the boundaries of federal power in the constitution. He enabled J. Edgar Hoover's abuses of the FBI. And so on. The case against Jackson is pretty straight forward: trail of tears, getting rid of the national bank.
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May 16, 2017 23:34
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Oh yeah, leaders currently in power that are worse than Trump (incomplete and unsorted list)
Off the top of my head.
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May 16, 2017 23:42
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The problem with Venezuela isn't oil dependence. It's the price controls and nationalizing of industries. It never works and never will. Legislating prices is like legislating the value of pi. It's like trying to make water flow uphill. As the oil industry crumbles we see the same thing happening there that happened in Zimbabwe when Mugabe repossessed the farms. He took the one cornerstone industry and handed it to political cronies. In reality it should have just been left in private hands where it was most productive. Surprise! Now they have unbelievable inflation. e: from the perspective of remaining in power, of course, nationalization is a totally sensible move. Free assets you can use to reward your allies. Mortabis has issued a correction as of 20:07 on May 17, 2017 |
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May 17, 2017 20:04
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P-Mack posted:Price controls can work as temporary emergency measures, or as part of a broader set of regulations and subsidies tailored to a specific industry for a specific purpose. There is never a good reason for price controls. There are better solutions to the problems you would try to solve with them. Mortabis has issued a correction as of 20:34 on May 17, 2017 |
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May 17, 2017 20:29
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Yes. Real standard of living declined dramatically. (Also those industries weren't nationalized)
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May 17, 2017 20:54
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