Without technically lying, Krugman perpetuates the myth that Herbert Hoover insisted on budget austerity in the midst of the Great Depression.
March 26th, 2010 | Robert P. Murphy | 0 comments | ContinuedAll Posts Tagged With: "Herbert Hoover"
Harding the Last American President to Deal Honestly With a Major Financial Crisis
Just look up Warren Harding on Wikipedia. The first entry you will find is not the 29th president of the United States of America, but a rock climber with the same name.
October 26th, 2009 | Bill Bonner | 12 comments | Continued
Herbert Hoover and the Great Depression
Let’s first set the record straight on Herbert Hoover’s fiscal policies. Contrary to what you have heard and read over the last year, Hoover behaved as a textbook Keynesian after the stock market crash. He immediately cut income tax rates by one percentage point…
July 16th, 2009 | Robert P. Murphy | 6 comments | Continued
Herbert Hoover Watched the Depression Unfold
Now that we’re living through the bust, on the other hand, many people are listening. That’s why it’s so important for economists of the Austrian School to redouble their efforts, whether in terms of writing, public speaking, media,…
July 15th, 2009 | Thomas E. Woods, Jr. | 0 comments | Continued
Public Works Done Right
John Maynard Keynes once argued that, in a depression, it would be worthwhile to pay workers to dig holes, and to pay other workers to fill them up. But, as Nathan Lewis points out, below, when short-term “stimulus” becomes the focus, the effect is more likely to be short-term welfare. Read on…
February 19th, 2009 | Nathan Lewis | 7 comments | Continued
