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Tag Archives: Crash
Roosevelt’s Recession of 1937
Roosevelt’s Recession of 1937, which saw the unraveling of supposed economic growth in the prior years, is oftentimes used as an historical example of what occurs when government decreases spending levels or the central bank fails to continue credit expansion. The use of this event to exemplify these things is disingenuous. More accurate lessons can be drawn, which show that only the market can fix itself. Continue reading
Did Protectionism Cause the Great Depression?
The debate on whether or not the Smoot-Hawley Tariff directly contributed to the Great Depression and/or worsened the industrial decline remains alive and well. Paul Krugman does not believe that the Smoot-Hawley Tariff had a major effect. It did, and it should be studied and the lessons applied to current political trends. Continue reading
Posted in History
Tagged 1929, 1930, Crash, decline, Depression, Great, hawley, Hoover, industrial, protectionism, Recession, smoot, smoot-hawley, tariff, trade
5 Comments
Hoover’s response to the October 1929 crash
After one has an understanding of the true scale of Hoover’s fiscal spending figures one can deduct that if government spending did not work during the first three years of the 1930s, there is no reason that it should have worked during the next four, either. Continue reading
Posted in History
Tagged 1929, Bailout, Crash, deal, Depression, Federal, Government, Great, Herbert, Hoover, intervention, new, October, Reserve
3 Comments