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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (456687)	2/15/2009 12:26:56 PM
From: combjelly	Read Replies (4) of 1576843

"Anyone who knows the history of that era (and that would exclude you) knows that WWII, not the New Deal, ended the Great Depression." WWII ended it. But recovery was well under way by the time the war started. By 1940 most indices had returned to, or exceeded 1929 levels, except for unemployment. There still wasn't enough economic increase to account for population growth during the 1930s, but the deficit spending wasn't greatly outpacing industrial growth and things were returning to normal. It is hard to dispute the positive effects of the New Deal. Countries which didn't adopt New Deal like measures, notably Britain, didn't see any recovery until the started to rearm. A good example was Australia and New Zealand. Both countries had a very similar profile, largely agricultural exports driving their economies. New Zealand adopted New Deal like policies during the 1930s, Australia adopted a balanced budget and cutting expenses policies. Guess which country did better?

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