Showing posts with label Roosevelt. Show all posts
Showing posts with label Roosevelt. Show all posts

Thursday, February 5, 2009

Did New Deal and World War II help depression?

Thomas E. Woods, Jr., the author of Politically Incorrect Guide to American History (listen to it here) says: “Don’t be ridiculous.”

In this lecture he explains how New Deal only hurt economy and WWII did not help it. He gives a thorough explanation of “broken window fallacy” (why destruction or taxation can never create wealth or boost anything in grand scale).

You can find the rest of Mr. Woods’s lecture here.

(Thanks to Shmulie for prompting me to look for this lecture.)