Quote:
Originally Posted by dippin
Do you know how the US got out of the 1893 recession? I could point you to academic articles, but wikipedia has it right there: a gold rush.
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As it relates to our current economic condition my point is that government spending did not trigger the recovery from the 1893 depression. In the case of the gold rush, that was a trigger. When you look at most economic recoveries we can point to some kind of "trigger" that is not government spending. If you give government the credit for the "gold rush", I can see how we differ on this point.
-----Added 11/2/2009 at 11 : 15 : 09-----
Quote:
Originally Posted by roachboy
basically, dippin's right.
the reason the gold rush was such a big deal had to do with the monetary system of the time, which was fundamentally different than it is now. as is most everything else.
the main parallel between then and now has to do with the difficulty the american state has in formulating coherent responses to depression.
but that's it.
there's no there there, ace.
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I think the biggest impact the government can have in stimulating economic growth is through sound monetary policy, low/fair tax policy, reasonable regulation and basically staying out of the way of innovation. The recovery from the 1893 depression had nothing to do with government spending.
OBama's plan today is basically; blame Bush, spend a trillion dollars, and "hope" everything works out. They even admit they don't know when and if their plan will work, they just know they have to do something.
-----Added 11/2/2009 at 11 : 20 : 21-----
Quote:
Originally Posted by dc_dux
A bit off track (so to speak), but...
didnt the government use (dk would probably say abused) the power of eminent domain to the benefit of private railroads and their stockholders?
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Read what I posted. One of my questions was related to what the mix was: 80/20, 90/10, etc. I acknowledged government had involvement. I even stated that it may be fair to conclude that government was responsible due to legislation passed. However, legislation is not spending.
Why do you continually set up straw-men arguments?