Saturday, November 8

Five Great Depression Myths

Quick, readable, and defended. Read it all.

Myth 1: Herbert Hoover, elected president in 1928, was a doctrinaire,
laissez-faire, look-the-other way Republican who clung to the idea that
markets were basically self-correcting
.

Myth 2:The stock market crash in October 1929 precipitated the Great Depression.


Myth 3: Where the market had failed, the government stepped in to protect ordinary people.

Myth 4: Greed caused the stock market to overshoot and then crash.

Myth 5:
Enlightened government pulled the nation out of the worst
downturn in its history and came to the rescue of capitalism through
rigorous regulation and government oversight.

1 Comment:

Alan said...

Myth 6: The previous myths are myths.