Kevin Gowen wrote:

> FDR did not change the Great Depression. He insured that it was great. Learn
> about Lord John Maynard Keynes, the man who was FDR's big influence. 

You are very confused and misinformed here Kevin. Keynes had very little
influence at all on fiscal policy in the US, or even for that matter in
the UK at the time. If anything, the influence was (marginally) in
reverse, as attempts to stimulate aggregate demand through expansionary
fiscal policy in the US (begun tentatively under Hoover no less)
substantially predate Keynes' General Theory. Keynes only influence in
the US prior to 1936 was through his devastating critique of the Treaty
of Versailles. Keynesian theory did not substantially impact upon
America's fiscal and monetary policies until the immediate postwar
period, due to largely to the efforts of academic economists in the
other Cambridge.

>>He had to undo it, like Clinton had to
>>undo what Bush and Reagan had done.
> 
> All FDR undid was the value of the dollar.

ブワッハッハッハ！

The slide into the Depression, with increasing unemployment, falling
production, and falling prices, began, continued and troughed during
Hoover's term. Jaysus Kevin, even Milton Friedman and Anna Schwartz have
argued that the Depression was the direct consequence of a sequence of
blunders in monetary policy through 1928-29. But those controlling
policy right up until FDR's first moves in 1933 genuinely believed they
were following the same gold-standard rules as their predecessors. Were
they (and Kevin) right? If they (and Kevin) were right, why did they
think they were following in the footsteps of their predecessors?

And if they were right Kevin, why was the Great Depression the only
Great Depression?









-- 
The captain is brave ( Aye! Carumba! What a storm! ).
The captain is brave, he's a fearless man,
And Gilligan help him all that he can.
The wheel, she break, and lose all control;
S.S. Minnow do the rock-and-roll!