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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (140169)	7/2/2010 5:23:59 PM
From: Mary Cluney	Respond to of 542125

<<<You might want to get yourself familiar with the facts and timelines of the Great Depression, i.e. who did what and when. Just read the facts, not some author who's trying to interpret history, argue causality, and lay blame. Wiki is the place to start>>> Thanks for the suggestion, but I don't think I will be able to fully follow up on your suggestion. I did however start - after a fashion. I found this time line: amatecon.com <<<Several types of events are covered in the timeline below. The first is the passage of legislation that effects either the money supply, international trade, or price and wage controls. The second is important publications about economics. The third is business cycle peaks and troughs. The last is significant political and social events. >>> It goes on to list several hundred events that would help me to more fully understand the Great Depression. I don't mean to be facetious, but it will take me several years to get through this stuff. But in the mean time I found this in Wiki: Following the outbreak of World War II, Keynes's ideas concerning economic policy were adopted by leading Western economies. During the 1950s and 1960s, the success of Keynesian economics was so resounding that almost all capitalist governments adopted its policy recommendations, promoting the cause of social liberalism. I think I should also study Keynesian economics. But at least I can agree with you on this: <<<I'm not going to waste time arguing for or against Hoover, >> Or can I? But let's face it, I am not in your league when it comes to knowledge in economics. To a large extent, I rely on the opinions of others. People like Krugman, Bernanke, Volcker, Jeffrey Sachs, Joseph Stiglitz, etc. But even there I am not anywhere near being a student of economic opinions. In my own defense, however, I think there is method to my madness.

To: Katelew who wrote (140169)	7/2/2010 10:24:30 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 542125

Katelew; Ireland, Greece, or Great Britain....three places that do seem to be "slashing" spending Krugman points out that the austerity programs put in place by Ireland, Latvia and Estonia have done worse that Iceland. Besides the fact that Iceland barely 300,000 people - it should be remembered that their currency collapsed and they had to be bailed out. Easier to do if you are such a tiny place. enormous losses and debt loads that existed throughout those years just had to be worked down and overcome and that takes a lot of time, You are talking the depression here and I believe that is exactly what must occur today. Time - we need time. Great comments! Steve