Here’s Tyler Cowen over at Marginal Revolution on the end of the Great Depression.
Cowen on the End of the Great Depression
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Should we really have expected to come out of such a severe downturn any faster? I mean the numbers look pretty good overall considering how bad things were.
Manufacturing
Unemployment
GDP
And monetary expansion is the explaination of how we got out of The Great Depression. I thought it as the explanation of how we got into this one.
And monetary expansion is the explaination of how we got out of The Great Depression. I thought it as the explanation of how we got into this one.
Well sure. It just goes to show that something may be the right or the wrong thing to do at different times. The trick is not to get caught trying to correct the last mistake and thereby amplifying the whole cycle…
Isaac Crawford
I thought that it is acknowledged that financial stimulus can "get the economy going" but that such stimulus entails mis-allocation of resources, or malinvestment, that results in an eventual downturn (all else being equal).