Wednesday, June 17, 2009

Some things never change


If you haven't already seen it, above is a cartoon from The Chicago Tribune in 1934. (Click on it to enlarge) It would need little updating to be completely current.

Those who've read Amity Shlaes' book, The Forgotten Man, a history of the 1930's depression, know that there are lots of parallels between the mindless government activism of the 1930's and of today. Government meddling in the '30's turned a garden variety downturn into a depression, and the much larger scope of meddling today has the potential to do the same, or at least retard a recovery.

What's interesting is how little has changed in the past 80 years. The same sorts of remedies are trotted out, no matter how many times they have failed in the past. If you haven't read The Forgotten Man, it is an excellent refresher course on the history of the '30's, which bears an uncanny resemblance to the political economics of today.

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