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by fennecfoxen
4445 days ago
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Naaah. The post-war revival in the economy was largely a result of having dismantled the FDR New Deal and its attendant control economy. No, not the Social Security part or anything like that - the part where politicians and regulators thought competition was bad for consumers, and spent the decade propping up their preferred cronies with price controls and selective bailouts and other such nonsense. With the politicians, of course, receiving ample campaign contributions in return. Taxes still damage the economy, it just turns out there are things that can damage an economy more than taxes. :) Ah, the New Deal, when our leaders thought they could lead us out of famine and into prosperity by burning crops. Birthplace of big-agribusiness! Et cetera. |
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What survived from the New Deal were the Keynesian stimulus programs, which were generally very successful, lasted through the war and up through the '70s, and some to this day.