February 03 2009 show notes


Topics, guests, upcoming events, quotes, links to articles, audio clips, books & bumper music.


Tuesday 03 February '09 show




  • We're in the Second Republican Great Depression. Obama is to talk about the stimulus package, Republicans are pushing back. The new meme they are putting out is that FDR made the depression worse, and that Obama will do the same.
  • Article: How Government Prolonged the Depression: Policies that decreased competition in product and labor markets were especially destructive. By Harold L. Cole And Lee E. Ohanian
    "The New Deal is widely perceived to have ended the Great Depression, and this has led many to support a "new" New Deal to address the current crisis. But the facts do not support the perception that FDR's policies shortened the Depression, or that similar policies will pull our nation out of its current economic downturn.

    The goal of the New Deal was to get Americans back to work. But the New Deal didn't restore employment. In fact, there was even less work on average during the New Deal than before FDR took office. Total hours worked per adult, including government employees, were 18% below their 1929 level between 1930-32, but were 23% lower on average during the New Deal (1933-39). Private hours worked were even lower after FDR took office, averaging 27% below their 1929 level, compared to 18% lower between in 1930-32.
    "
  • Guest: economist Chuck Collins, senior scholar at the Institute for Policy Studies in Washington, DC, where he directs IPS

Thom's Blog Is On the Move

Hello All

Today, we are closing Thom's blog in this space and moving to a new home.

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