We often hear the question “isn’t this economic crisis becoming as bad as the Great Depression?” Economists can offer a variety of reassurances, but each of them is quite circumscribed: (more…)
Tags: 1930s, 1932, Anna Schwartz, Depression, economic crisis, fiscal stimulus, Franklin Roosevelt, Friedman, Great Contraction, Great Depression, Hawley, Herbert Hoover, lessons, Obama, recession, Smoot Posted in Obama Administration, financial crisis, fiscal stimulus, recession, trade | Comments Off