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To: LS

Have you read Burton Folsom’s book on the Robber Baron’s?

BTW Higgs is right about WW2 spending.


14 posted on 04/21/2009 6:54:40 PM PDT by 1010RD (First Do No Harm)
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To: 1010RD
I used Burt's book many times in my classes.

I disagree with Higgs's model. It's absurd to say in essence that war goods aren't really "goods" just because they aren't consumer goods. In fact, during a war, the ONLY goods that count are "war goods," and hence, it is true that WW II did "get us out of the depression." A large part of that, however, was not just spending (as Keynesians say) but forced savings (supply side) through war bonds. But in a short time, the savings was unleashed. So, yes, WW II did get us out of the Great Depression.

27 posted on 04/22/2009 4:18:50 AM PDT by LS ("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
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