What actually got us out of the great depression?

[trey4sports]

As far as the mainstream goes.... the "official" reason we got out of the great depression is usually tied the New Deal, WW2 ramp up, and the Marshall Plan. From what I've read the New Deal prolonged the depression and WW2 really just diverted resources to the war sector - not to a productive use.

I've read various articles about how these actions PROLONGED the depression but i don't think I've actually read the libertarian view of what actually REVIVED the economy and I would appreciate it if someone could provide some clarity as to how the US actually got out of the great depression.

Thanks in advance.

 

[Todd]

I'll let someone with more insight than I have, but just off the top of my head opinion is that following WW2 US industry was pumping out alot of consumer goods leading up into the 50's. Also this was baby steps into the MIC, so naturally business that furthered a war footing helped I'm sure.

 

[Matt Collins]

Read Robert Murphy's Book - The Politically Incorrect Guide to the Great Depression and New Deal:

https://www.amazon.com/Politically-...murphy+new+deal&qid=1586792615&s=books&sr=1-1

 

[trey4sports]

Read Robert Murphy's Book - The Politically Incorrect Guide to the Great Depression and New Deal:

https://www.amazon.com/Politically-...murphy+new+deal&qid=1586792615&s=books&sr=1-1

Thanks Matt. It is on my list. In fact, I have "FDR's Folly" and "Americas Great Depression" in my bookcase but I'm currently reading "Recarving Rushmore" and listening to "The Real Lincoln." So i'm hoping someone has a quick "nutshell" explanation of the situation until I finish the two books i'm reading now.

 

[VIDEODROME]

Advances in Physics and Technology including automotive and aviation?

Filling the gap left by Europe having endured destruction during the War? Helping to rebuild?

Reperations payments from Japan?

 

[oyarde]

As far as the mainstream goes.... the "official" reason we got out of the great depression is usually tied the New Deal, WW2 ramp up, and the Marshall Plan. From what I've read the New Deal prolonged the depression and WW2 really just diverted resources to the war sector - not to a productive use.

I've read various articles about how these actions PROLONGED the depression but i don't think I've actually read the libertarian view of what actually REVIVED the economy and I would appreciate it if someone could provide some clarity as to how the US actually got out of the great depression.

Thanks in advance.

Once the downward death spiral starts you cannot easily get out . Worldwide GDP dropped 15 percent . In the crash in 2008 it dropped one percent . By the first signs of recovery in 1933 , world trade was 1/3 of what it was pre Sept 1929 . Crop prices fell 60 percent , non govt construction stopped .There is no fix for that . You are basically living in a world at that time where production capability is way past demand . Contraction and deflation like that is how it takes 13 years to get from 23 percent unemployment to 9 percent in a country like this.

 

[oyarde]

What we could be looking at now is a thirty percent drop that could take two full quarters to get back . Also keep in mind in 1928 US population was 120 million and is currently 330 million . More mouths to feed.

 

[oyarde]

So , are we once again entering a time when production exceeds demand ? Probably not . In 1930 consumers spent ten percent less than 1928 . I doubt Americans today ever have that much discipline .

 

[tebowlives]

What we could be looking at now is a thirty percent drop that could take two full quarters to get back . Also keep in mind in 1928 US population was 120 million and is currently 330 million . More mouths to feed.

And those 330 million eat like 660 million.