Friday, April 24, 2009
Depression Era Mentality
This cartoon was sent to me by a friend of mine (see KM3's blog on the blog spot)It dates back to 1932 and depicts conservatives protesting the policies of the newly elected FDR. It was of course during the depression and it was Roosevelt's thought that Keynesian economic theory had a lot of virtue, i.e. during times of depression or serious recession it is not only appropriate for government to engage in deficit spending, it is essential. Some modern day Republicans have tried to argue that it wasn't Roosevelt's policies that pulled us out of the depression. Rather it was WWII. Duh! What exactly do you think it was the government started to do big time after Pearl Harbor? Spend, that's what. History does indeed repeat itself. As I've said before, Mr. President, keep calm and carry on!
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