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To: RLK
I'm sorry if I implied otherwise. Thank you for the correction. Part of the reason I jumped on the statement is that the "hope" argument is one of the last defenses of those who do like FDR as if that somehow mitigated the disasterous failures of his economic policy. Also, of course, the "World War II got us out of the depression" is often used by those who argue that Keynesian spending did in fact work.
118 posted on 05/19/2002 8:59:08 AM PDT by Captain Kirk
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To: Captain Kirk
I think Roosevelt had many dangerous people around him. I don't have the exact figures in front of me, but from previous study I vaguely remember that in '37 or '38 the unemployment rate was still about 17-18% which is damned high. At times in the 30s the entire officer corps of the marine corps numbered a little over 300 men. Preparation for war, and war, did get men off the streets and get them three square meals a day, which for many was a bessed relief. In that sense it did end the unemployment problem.

The problem I see with Kensian economics is several fold. It allows a socialistic system in which individual determination is displaced by government programs. Over the long haul this produces a soft parasitic underclass that makes increasing demands on the government and fellow citizens which become perpetuating and destructive. That is, it puts people on government programs and pays the cost later in inflated funny-money. In addition to social deterioration there is an inflationary element that can get out of hand with destructive consequences. An entire analysis is too long to go into here.

119 posted on 05/19/2002 10:36:41 AM PDT by RLK
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