Markets plummet on Republican obstructionism
 

On Dec 3, 9:55*pm, Hawke wrote:



By the way, most economists disagree with their thesis.

Got any _facts_ to back up that assertion, Dave?

Why, yes I do, Johnny!

In a survey of economic historians conducted by Robert Whaples,
Professor of Economics at Wake Forest University,
Whaples sent out anonymous questionnaires to members of the Economic
History Association. Members were asked to
either disagree, agree, or agree with provisos with the statement that
read: "Taken as a whole, government policies
of the New Deal served to lengthen and deepen the Great Depression."

But Professor Whaples survey said " Taken as a whole " . I would have
disagreed with that statement as some of the government polices served
to shorten the Great Depression and taken as a whole the government
polices did not serve to lengthen and deepen the Great Depression.
However some of the government policies probably caused the recession
of 1937 - 1938. See bit copied from WIKI

In June 1937, the Roosevelt administration cut spending and increased
taxation in an attempt to balance the federal budget.[88] The American
economy then took a sharp downturn, lasting for 13 months through most
of 1938. Industrial production fell almost 30 per cent within a few
months and production of durable goods fell even faster. Unemployment
jumped from 14.3% in 1937 to 19.0% in 1938, rising from 5 million to
more than 12 million in early 1938.[89] Manufacturing output fell by
37% from the 1937 peak and was back to 1934 levels.[90] Producers
reduced their expenditures on durable goods, and inventories declined,
but personal income was only 15% lower than it had been at the peak in
1937. As unemployment rose, consumers' expenditures declined, leading
to further cutbacks in production

If Wiki says this, then it looks as if most economist agree with
Harold L. Cole
and Lee E. Ohanian.

Dan

Markets plummet on Republican obstructionism
 

On Sat, 3 Dec 2011 19:55:19 -0800 (PST), "
wrote:

In a survey of economic historians conducted by Robert Whaples,
Professor of Economics at Wake Forest University,
Whaples sent out anonymous questionnaires to members of the Economic
History Association. Members were asked to
either disagree, agree, or agree with provisos with the statement that
read: "Taken as a whole, government policies
of the New Deal served to lengthen and deepen the Great Depression."

But Professor Whaples survey said " Taken as a whole " . I would have
disagreed with that statement as some of the government polices served
to shorten the Great Depression and taken as a whole the government
polices did not serve to lengthen and deepen the Great Depression.


Actually..they did lengthen and deepen the GD.

History cannot be changed.


One could not be a successful Leftwinger without realizing that,
in contrast to the popular conception supported by newspapers
and mothers of Leftwingers, a goodly number of Leftwingers are
not only narrow-minded and dull, but also just stupid.
Gunner Asch

Markets plummet on Republican obstructionism
 

On 12/3/2011 7:55 PM, wrote:
On Dec 3, 9:55 pm, wrote:



By the way, most economists disagree with their thesis.

Got any _facts_ to back up that assertion, Dave?

Why, yes I do, Johnny!

In a survey of economic historians conducted by Robert Whaples,
Professor of Economics at Wake Forest University,
Whaples sent out anonymous questionnaires to members of the Economic
History Association. Members were asked to
either disagree, agree, or agree with provisos with the statement that
read: "Taken as a whole, government policies
of the New Deal served to lengthen and deepen the Great Depression."

But Professor Whaples survey said " Taken as a whole " . I would have
disagreed with that statement as some of the government polices served
to shorten the Great Depression and taken as a whole the government
polices did not serve to lengthen and deepen the Great Depression.
However some of the government policies probably caused the recession
of 1937 - 1938. See bit copied from WIKI

In June 1937, the Roosevelt administration cut spending and increased
taxation in an attempt to balance the federal budget.[88] The American
economy then took a sharp downturn, lasting for 13 months through most
of 1938. Industrial production fell almost 30 per cent within a few
months and production of durable goods fell even faster. Unemployment
jumped from 14.3% in 1937 to 19.0% in 1938, rising from 5 million to
more than 12 million in early 1938.[89] Manufacturing output fell by
37% from the 1937 peak and was back to 1934 levels.[90] Producers
reduced their expenditures on durable goods, and inventories declined,
but personal income was only 15% lower than it had been at the peak in
1937. As unemployment rose, consumers' expenditures declined, leading
to further cutbacks in production

If Wiki says this, then it looks as if most economist agree with
Harold L. Cole
and Lee E. Ohanian.

Dan



Maybe you didn't understand what the Wake Forest study found. Majorities
of economists did not agree with Ohanian and Cole. The view they have is
not what most economists believe. Not only that Wiki is not a reliable
source for any kind of citation, since it's factually wrong very frequently.

Hawke

Markets plummet on Republican obstructionism
 

On Dec 6, 3:06*pm, Hawke wrote:


Maybe you didn't understand what the Wake Forest study found. Majorities
of economists did not agree with Ohanian and Cole. The view they have is
not what most economists believe. Not only that Wiki is not a reliable
source for any kind of citation, since it's factually wrong very frequently.

Hawke

Maybe you do not understand. FDR did a lot of different things. Some
of them shortened the depression , some prolonged the depression. The
Wake Forest study says " taken as a whole ". So one can agree with
Ohanian and Cole and still say that taken as a whole, FDR did not
prolong the depression. However most economists agree that what FDR
did in around 1937 did prolong the depression.

Wiki is a much more reliable source than you are.

Dan

Markets plummet on Republican obstructionism
 

On 12/6/2011 5:11 PM, wrote:
On Dec 6, 3:06 pm, wrote:


Maybe you didn't understand what the Wake Forest study found. Majorities
of economists did not agree with Ohanian and Cole. The view they have is
not what most economists believe. Not only that Wiki is not a reliable
source for any kind of citation, since it's factually wrong very frequently.

Hawke

Maybe you do not understand. FDR did a lot of different things. Some
of them shortened the depression , some prolonged the depression. The
Wake Forest study says " taken as a whole ". So one can agree with
Ohanian and Cole and still say that taken as a whole, FDR did not
prolong the depression. However most economists agree that what FDR
did in around 1937 did prolong the depression.

Wiki is a much more reliable source than you are.

Dan




That's your opinion. Wiki is filled with errors. What I post may not be
100% perfect but it is not filled with errors.

Hawke

Hawke