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Great Depression
The Great Depression analogy
Over at The Atlantic, Megan McArdle had this to say about the analogy between the current recession and the Great Depression.
I don’t want to push the Great Depression analogy too far, but what’s surprising when you go back to primary sources from 1930 is the optimism. I don’t mean to imply that everyone thinks things [...]
Lessons of the Great Depression
Harvard Economic professor Robert Barro on lessons from the Great Depression. He’s interviewed by the website, The Browser.
B: I thought that the Great Depression was the ultimate cautionary tale on the dangers of protectionism. That’s not the case?
RB: No I think what is much clearer is the role of the financial system and the credit [...]
Haymarket Strike
Even though the topic isn’t always pleasant, this blog has helped me to learn more about the past srtuggles and economic conflicts. The Haymarket Srike is one example.
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A new virtue: Thrift
And not a moment too soon it seems.
“It’s huge,” said Martha Olney, an economics professor at the University of California, Berkeley, who specializes in the Great Depression, consumerism and indebtedness. The rapid reversal is even more remarkable, she said, because in recessions consumers usually save less money. Not this time. “It implies a re-emergence of [...]
MIT History course on the Great Depression
I’m so glad to see MIT and other universities opening up their courses. Free. Sweet.
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San Francisco seniors speak about the Great Depression
From SF Gate, four seniors share their Depression era experiences.
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Richard Posner and the current "Depression"
Richard Posner, the jurist I most love to read and whom I wish was wrong more than I’m afraid he isn’t, recently made the admission in this Bloomberg podcast that, yep, it’s a “depression”. A review of his recent book in the A Failure of Capitalism: The Crisis of ‘08 and the Descent into Depression, is [...]
Epistemology and our Depression
True, but I still think we (common folk) can gain a lot from examining how the prior generation dealt with tough, tough times. In an article from The American Enterprise Institute, Jerry Z. Muller suggests:
We should attend to what is new and especially problematic about the current downturn and why it may not respond to [...]
It's a Depression
Robert Reich thinks so.
This is still not the Great Depression of the 1930s, but it is a Depression. And the only way out is government spending on a very large scale. We should stop worrying about Wall Street. Worry about American workers. Use money to build up Main Street, and the future capacities of our [...]
More stories from the Great Depression
The New York Times has an article today that echoes what I hope this blog will encourage:
At a time when life in America is beginning to resemble a roller-coaster ride on the way down and everyone is trying to find ways to save money, it may be instructive — both in terms of offering helpful [...]
Prepare for the unknown by studying how others in the past have coped with the unforeseeable and the unpredictable.
-- George S. Patton