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Keyword: ohanian

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  • History Lesson From the 'Twenties (how government policies caused the Great Depression)

    11/01/2009 3:52:19 AM PST · by reaganaut1 · 6 replies · 697+ views
    Barron's ^ | November 2, 2009 | Thomas. G. Donlan
    ... The Great Depression was caused by misguided government policies adopted to avoid the "unsatisfactory conditions" signaled by the crash. The run-of-the-mill recession that ought to have followed the crash was magnified by the policies of the federal government during the administration of Herbert Hoover. In a paper for the National Bureau of Economic Research published last August, Lee E. Ohanian examines a continuing mistake during the Hoover administration that helped transform difficulty into calamity. An economics professor at UCLA, Ohanian has written numerous papers on the Depression. In one earlier paper, he pinned the persistence of high unemployment on...
  • Blaming Hoover (for Helping Workers)

    08/31/2009 12:06:24 PM PDT · by reaganaut1 · 16 replies · 958+ views
    New York Times ^ | August 31, 2009 | Floyd Norris
    What caused the Great Depression? There are plenty of theories and arguments out there, and I donít plan to review them. But a new one (at least new to me) is contained in a paper by Lee Ohanian, a U.C.L.A. economist, that was released today by the National Bureau of Economic Research. He blames Herbert Hoover. That is not exactly original; the Democrats ran against Hoover for a generation after he left office, much as some would now like to run against George W. Bush. But his criticism is that Hoover was too kind to workers, which is not exactly...