[VIDEO] Top 3 Myths About the Great Depression and the New Deal

[Wesker1982]

I love these short videos. Good for spreading the truth...

Historian Stephen Davies names three persistent myths about the Great Depression. Myth #1: Herbert Hoover was a laissez-faire president, and it was his lack of action that lead to an economic collapse. Davies argues that in fact, Hoover was a very interventionist president, and it was his intervening in the economy that made matters worse. Myth #2: The New Deal ended the Great Depression. Davies argues that the New Deal actually made matters worse. In other countries, the Great Depression ended much sooner and more quickly than it did in the United States. Myth #3: World War II ended the Great Depression. Davies explains that military production is not real wealth.; wars destroy wealth, they do not create wealth. In fact, examination of the historical data reveals that the U.S. economy did not really start to recover until after WWII was over.

http://www.youtube.com/watch?v=7QLoeehMw0w&feature=feedu

 

[headhawg7]

Number 1 is the one I have the biggest problem with. There are many universities and HS's that claim that hoover was laissez faire and also people such as greenspan. Pure propaganda. People who claim such things are either A. ignorant or B. liars. Sometimes both.

 

[flightlesskiwi]

+rep

these are great!

 

[Aratus]

if FDR's moxie via the "fireside" chats held the nation together
but his economoic policies were a jumbled mess of hoover inherited
ideas and keynesean impulses, keynes is not one of the olympian gods.