To: Eagle Forgotten
I'm no big fan of Robert Higgs. He completely denies the impact of WW II spending (and forced savings) in causing the recovery. But there is a terrific new book out there on the New Deal by Burton Folsom:
New Deal or Raw Deal?
6 posted on
04/21/2009 6:08:58 PM PDT by
LS
("Castles made of sand, fall in the sea . . . eventually." (Hendrix))
To: LS
People piled up large amounts of unspendable income in the form of money and bonds. Don’t confuse paper assets with real wealth.
10 posted on
04/21/2009 6:20:58 PM PDT by
Conservative Coulter Fan
(I am defiantly proud of being part of the Religious Right in America.)
To: LS
40% of the labor force were not producing consumer or capital goods and the tax money of the other 60% were funding the production of goods they did not need...that’s a loss of wealth.
12 posted on
04/21/2009 6:25:15 PM PDT by
Conservative Coulter Fan
(I am defiantly proud of being part of the Religious Right in America.)
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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