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Twin Towers said:
That is the BIGGEST FALLACY taught in schools. Spending money on a war and people dying brought us out of the great depression? That is moronic. I am sorry but its ridiculous to even make that statement. That is not possible. How does sending troops to another country to fight a war help the financial sector of America? That makes no sense. Its not hard to argue. Anybody WITHOUT a economic degree can figure that out.

https://mises.org/rothbard/agd.pdf
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Rhetoric aside, the vast majority of economists believe that the New Deal and the War contributed to the recovery. Linking books with an opposing view is not helpful. For one, I obviously will not read the book before I respond to your posts. Secondly, there are minority opinions in all fields.

As for the War, it contributed in many ways. First, the redirection of funds spurred massive growth in key sectors. Those funds would've otherwise been distributed freely and inefficiently into the economy. Second, the unemployment rate plummeted during the war, for obvious reasons. Third, the massive economic growth that followed the War, in all of the participating nations, led to an explosion of technological advancements that reshaped the entire economy.
 
siromar said:
Rhetoric aside, the vast majority of economists believe that the New Deal and the War contributed to the recovery. Linking books with an opposing view is not helpful. For one, I obviously will not read the book before I respond to your posts. Secondly, there are minority opinions in all fields.

As for the War, it contributed in many ways. First, the redirection of funds spurred massive growth in key sectors. Those funds would've otherwise been distributed freely and inefficiently into the economy. Second, the unemployment rate plummeted during the war, for obvious reasons. Third, the massive economic growth that followed the War, in all of the participating nations, led to an explosion of technological advancements that reshaped the entire economy.
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Taxes were lowered Almost in half. And spending was cut in by 2 thirds. But history books don't show that.

And of course I am in the minority. We don't understand economics so the popular way to do things obviously is not working otherwise we would not be in this mess. But we have been bailing out companies for decades and going to war for decades. Don't you think this war that we have been in for the last decade would of prevented the recession/depression? The argument holds no weight that the war brought us out. If something can bring us out of a war than it could surely prevent it right?
And Middle class do not get benefit from the country going to war. The only people who get money is the people who are apart of the war.

You of course showed when the war ended and when we got better. But still you did not explain why the war helped the economy. There is no direct relation. People see they happened at the same time but don't directly relate anything. Its assumption with no facts.

So you believe in the free market efficiently spreading funds around except during recessions? I believe in god but only when times are good.
 
Twin Towers said:
Taxes were lowered Almost in half. And spending was cut in by 2 thirds. But history books don't show that.

And of course I am in the minority. But we have been bailing out companies for decades and going to war for decades. Don't you think this war that we have been in for the last decade would of prevented the recession/depression? The argument holds no weight.
And Middle class do not get benefit from the country going to war. The only people who get money is the people who are apart of the war.

So you believe in the free market efficiently spreading funds around except during recessions? I believe in god but only when times are good.
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The scale of both the current war and recession do not compare to the ones we're discussing. Markets go through cycles, and nothing can be done to prevent that. I'd also like to point out that you seem to confuse what I'm saying with what I believe. I never said the free-market was perfect, or that it is even the best option. I was simply explaining the current thinking and practice in the field of economics. My personal beliefs are quite outside the mainstream and are irrelevant for the current discussion.

And I do not believe in gods whether times are good or bad.
 
siromar said:
The scale of both the current war and recession do not compare to the ones we're discussing. Markets go through cycles, and nothing can be done to prevent that. I'd also like to point out that you seem to confuse what I'm saying with what I believe. I never said the free-market was perfect, or that it is even the best option. I was simply explaining the current thinking and practice in the field of economics. My personal beliefs are quite outside the mainstream and are irrelevant for the current discussion.

And I do not believe in gods whether times are good or bad.
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There are small business cycles in a free market but never enough to create a depression. Only government intervention can create a depression. But the business cycles we have been going through the past 85 years are created by the Federal Reserve. Any time you spend tons of money you have to pay for it later. That is what we are doing. You can prevent depressions by not inflating markets or the currency.

United States of Amnesia. The free market is the best. Our first 130 years proved that. But nobody is willing to remember American history. We only have short term memories. The value of our currency increased without regulations and inflation the currency in the 1800's.
 
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