Quote:
Originally Posted by whell
The party of the working class did not do the unemployed any favors during the 1930's. Of course this assumes that the government can have a positive impact on capital utilization and job creation, which is pretty debatable IMHO.
http://www.sjsu.edu/faculty/watkins/recovery.htm |
One might think that the decline in investment was as much related to the fortunes that were lost in the crash during the Hoover years, and the resultant doubt in the stability of the markets as a place for investing capital. The good prof. seems to be making a result-oriented assumption about the causes of investor reluctance, blaming it on the Government programs that were designed to relieve the effects of the crumbled economy, rather than the creation of the economic circumstances that lead to the crash.
Regards,
D-Ray