Comments on: The Great Depression as we Know it Was Avoidable

By: Alex Smith

Alex Smith — Sun, 13 Mar 2011 04:00:09 +0000

http://www.economy.com/mark-zandi/documents/End-of-Great-Recession.pdf

In this paper, we use the Moody’s Analytics model of the U.S. economy—adjusted to accommodate some recent financial-market policies—to simulate the macroeconomic effects of the government’s total policy response. We find that its effects on real GDP, jobs, and inflation are huge, and probably averted what could have been called Great Depression 2.0. For example, we estimate that, without the government’s response, GDP in 2010 would be about 11.5% lower, payroll employment would be less by some 8½ million jobs, and the nation would now be experiencing deflation.

By: milton d simmons

milton d simmons — Thu, 05 Aug 2010 22:34:58 +0000

I think Jim Powell is right on the money.

By: Why This Stimulus Package Won’t Work — And What Will : What’s Best Next

Tue, 27 Jan 2009 16:26:15 +0000

[...] Plus, the government is not our parent. Don’t try to take care of us by stepping in to create jobs directly. Just keep us — the citizens in the private sector — maximally free to act. Didn’t we learn our lesson in the 30s! [...]

By: Caleb

Caleb — Wed, 10 Dec 2008 01:03:45 +0000

I must say I highly disagree with Ben Bernanke’s view of the gold standard and thus his book. It’s very ironic that one of the major causes of the Great Depression was monetary policy, not the gold standard he attacked. And I don’t mean whether we should have inflated or deflated the money supply, as the debate goes. I mean whether we should TOUCH the money supply at all! That, I believe, is where the debate needs to be.

By: Mike Tosoni

Mike Tosoni — Fri, 05 Dec 2008 07:15:08 +0000

Matt: Suggestion. Read Murray Rothbard's essay, "Economic Depressions: Their Cause and Cure", and see if your life is not changed. He also wrote a book, America's Great Depression, which I'd also suggest you read, except that I'm only through the first chapter.

By: Pages tagged "avoidable"

Pages tagged "avoidable" — Sat, 15 Nov 2008 20:05:45 +0000

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By: essays on the business cycle | Bookmarks URL

essays on the business cycle | Bookmarks URL — Thu, 30 Oct 2008 04:07:50 +0000

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