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Condemning us to repeat the past

on Nov 30 2008 at 9:11 am | Filed under: Barack Obama, Economics

The liberal press and “economists” such as Paul Krugman are so excited:  Obama is looking to FDR for guidance.  Before Obama gets too carried away with that notion, conservatives should send him copies of Amity Shlaes’ The Forgotten Man : a New History of the Great Depression, in which she compellingly explains how FDR’s endless messing with the market and expansion of the government prolonged and worsened the Depression.  For a quick summary of the principles underlying Shlaes’ thesis, you can read this WSJ article she just wrote.

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3 Comments »

3 Responses to “Condemning us to repeat the past”

  1. on 30 Nov 2008 at 2:16 pm 1Charles Martel

    The mind reels at the thought of seeing Paul Krugman excited.

    What was it one wag said about him? “He’s successfully predicted 17 of the last three recessions.”

  2. on 01 Dec 2008 at 5:26 am 2Danny Lemieux

    John Kass, Chicago Tribune columnist, put it nicely when he noted that, faced with overwhelming circumstances, people tend to “retreat to the comforts of myth”. Therein lies tragedy as, today, the Age of Reason has passed and myth makers rule.

  3. on 01 Dec 2008 at 2:31 pm 3alpha-maser

    Also check out the book (paperback) “FDR’s Folly” by Jim Powell which describes how FDR’s New Deal prolonged the Great Depression.

    Also check my new conservative site/blog at: http://www.maser-media.org/

    Thanks,

    Alpha Maser

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