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Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
If either politician could propose a New Deal like solution to our economy it would be beneficial. We need to update the nations internet infrastructure
But if there's anything more unpredictable than the direction of the market, it's the effects of government tinkering with economic policy. And even today, economists and historians still vigorously debate not only whether or not the New Deal helped take the country out of the Depression but if it actually made things worse.
Just how divided are experts? In 1995, economist Robert Whaples of Wake Forest University published a survey of academic economists that asked them if they agreed with the statement, "Taken as a whole, government policies of the New Deal served to lengthen and deepen the Great Depression." Fifty-one percent disagreed, and 49 percent agreed. Whaples today says that the New Deal remains a thorny issue for economists because it's so difficult to measure the effects it had on the country. "You need a credible model of the economy, and not everyone is going to agree on what that model should be," he says.
I don't think hes a socialist, per say.
Originally posted by DirectDemocracy
I am still trying to figure out what makes a Republican and what makes a Democrat?
Is it gun rights? Apparently not because there are pro gun rights liberals and anti-gun conservatives.
Is it abortion? Well it can't be because there are Pro Life Liberals and Pro Choice Conservatives.
Is it the size of the government? NOT AT ALL! They both LOVE to spend those government taxes.
Is it the economy? Nope. Both sides claim the other is responsible for unemployment, yet neither side has a solution to unemployment.
So just what the hell IS the difference between a republican and a democrat? I have no clue. I only see differences between the two men running for POTUS.
A crooked mob lawyer from Chicago, and a Corporate Axe man who got rich stealing pensions and sending jobs overseas.
I can't bash the Right Wingers when I have no freaking clue what a right winger even is.
I can say I like Obama more than Romney, but these are just men. Just men. The party they represent is what matters.
The people who gave them hundreds of millions of dollars for their campaign in exchange for promises is what matters. I will not bother to register to vote yet again. This will be Election number 5 that I have not bothered to register to vote for. Kind of sucks paying taxes when I have no representation though
* Saved America’s environment by creating the Environmental Protection Agency and Clean Air Act while approving the most sweeping environmental legislation in history.
* Simultaneously reformed welfare and brought in serious new civil-rights laws and agencies for minorities, women, the handicapped and children.
* Proclaimed the first official U.S. Earth Day/Earth Week in 1971. * Totally reformed the government’s relationship with Native Americans, bringing new self-determination and civil rights to U.S. tribes while saving such Indian natural wonders as Pyramid Lake — the tribe even renamed its capital “Nixon.”
* Was even described as “the Abraham Lincoln of the Indian people.”
* Loved those Chinese communists.
* Spent more on social programs than defense!
Originally posted by beezzer
reply to post by neo96
The Leftists next week will swoon over the oratory skills emitting from the pie-holes of the idiots speaking of everything but;
the economy, unemployment, GDP, consumer confidence, the war in Afghanistan, Obama's kill-list, raising taxes, cost of food increases, cost of gas increases, Hurricane Issac, drones in AMerican skies, UN tax decrees, ACA, ad nauseum.
Originally posted by finitedualities
The fact that people still think there's a difference between the two is hilarious. Maybe lurk around here some more, or better yet, push your head even further into the sand, lmao.
Originally posted by RealSpoke
The DNC convention is up and coming and I want to see those critics hold their own party to the same standards they set for the Republicans This week.
1. Anyone right wing unless fascist would not be rooting for the Republican party. It's a disgrace you lumped all right wing people together claiming they are all republicans.
2. Pretty sure 99% of left wing people on ATS are not democrats, as the democratic party is right wing itself.