Added: Dec 12, 2011

From: CFPEcon101

Duration: 6:3

This mini-documentary from the Center for Freedom and Prosperity Foundation explains how the statist policies of Presidents Hoover and Roosevelt lengthened and deepened the Great Depression. The video also briefly explains how reductions in the burden of government spending helped the economy recover from a deep recession after World War I and to grow after World War II.

Channel: Nonprofit

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Rating: 4.248322' max='5' min='1' numRaters='447' rel='http://schemas.google.com/g/2005#overall ( ratings)    Views: 38905    Comments: 463

captainjack77 Says:

Feb 14, 2013 - In 1944, you could deduct business meals, all business travel, all forms of interest payments, and much more. You could even deduct spousal travel expenses on a business trip! Companies could also "loan" or "provide" almost anything to an employee, from an apartment to standard benefits.

ymkamara420 Says:

Feb 11, 2013 - "Also, if, since 2008, the deficit has risen as it has, and dollars have been printed as they have, why is there no recovery" Most of the money they have printed was not injected into the economy. In the Q.E's the money created is reserves, it's like an asset swap: the banks swap their bonds for reserves. required reserves and excess reserves are held at the Fed, they are not used to buy goods.(that explains why Q,E's are not inflationary)

ymkamara420 Says:

Feb 11, 2013 - " I tell you it will go to a good cause, which I will decide upon. If you refuse, I will kidnap you, and lock you in a cage" I would pay gladly if you can give me the same services that a policeman, firefighter,public school teacher, public university, army officer, public defender, librarian, (dude i can go on forever) lol

David Thompson Says:

Sep 12, 2013 - The correct history of Progressives, not propaganda! Well done.... Hillary, Obama and these Nasty Progressives with their Cronies will not be remembered with fondness 20 years from now!

captainjack77 Says:

Feb 10, 2013 - Well you seem to think that the Keynesian era ended in 1980, which is absolutely ridiculous. They escalated from 1980-present. But how about the Great Inflation of 1970? Remember the 80 million workers unemployed? A rising unemployment rate reaching 8%. Yeah, a smashing success for the theory of Keynes! Also, there was another stock bubble in 73-74. Nixon also engaged in price fixing, and wage controls, and left the GS.

ymkamara420 Says:

Feb 11, 2013 - final part of Kaldor "480 provisions and by reducing output through acreage restriction) the sharp rise of food prices following upon the large grain purchases by the U.S.S.R. [in 1972–1973], which unhinged the stability of the world price level far more than anything else, could have been avoided.” (Kaldor 1976: 228). That along with the oil shock from October 1973, the failure of the harvest in the old Soviet Union in 1972, and end the Bretton woods system caused the inflation not keyens

captainjack77 Says:

Feb 10, 2013 - Also, you can pay more taxes if you so choose. If you think you're not paying enough (you probably don't pay any income tax, nor have an income), but you are able to cut a bigger check to the government you love so dear. What you want, is to force other to pay into whatever cause you feel is important.

captainjack77 Says:

Feb 14, 2013 - I guess you are going to ignore the fact there were FAR more available deductions, and that only a tiny percentage of the rich paid those rates? Here's one: You could write off losses from one business venture, against the profits of another! I guess your are going to ignore that the top rate also STARTED at $200,000 (equal to $2.4 million, today).

jodi183 Says:

Oct 12, 2013 - weak argument.

captainjack77 Says:

Mar 14, 2013 - Right, and this is why I have called you the Great Denier of Facts. I have illustrated how Hoover was very much an interventionist, with numerous examples, and you continue to close your eyes and stick your fingers in your ears. Not much can be gained by this conversation, you are clearly not interested in being objective. You are going to stick with what you believe, and belligerently defend your inane position, regardless of facts.

Evan Mahon Says:

Feb 27, 2013 - For almost 2 years after the onset of the Great Depression, we had limited government intervention, a top income tax rate of merely 25%, and a very low corporate tax rate (it was something like 10%). This doesn't look like the work of a "dogmatic interventionist" to me. Now, there's no question Hoover tried to act in the final year of his term, but for your own convenience, you are ignoring his policies from 1929 to mid-1931! You're being disingenuous if not dishonest.

Evan Mahon Says:

May 26, 2013 - Well, at the time, international trade was only a very small part of the U.S. economy relative to what it is today. It was something like 4% of GDP. Tariffs on imported goods were increased several times throughout the 20s and the economy continued to thrive. However, my point wasn't necessarily about the economy; I'm not an economist. My point was we shouldn't take this video seriously because Michelle fields is not a credible economic historian.

captainjack77 Says:

Feb 15, 2013 - Only government can expand the money supply sufficiently to generate chronic price inflation. The Great Inflation was caused by the greatest domestic policy blunders since WW-II. In fact, the oil shocks could not have occurred in the absence of the previous decade of monetary inflation that was undermining the purchasing power of the dollar. With monetary inflation being determinedly employed to keep real interest rates near or below zero, oil in the ground was worth more than oil produced.

captainjack77 Says:

Feb 10, 2013 - Also, if, since 2008, the deficit has risen as it has, and dollars have been printed as they have, why is there no recovery? Why has the mass borrowing not led to increased prosperity? Why is it, that now, the theories of Keynes are failing, miserably? You do realize that inflation hurts the poor more than anybody else, right?

brabus8317 Says:

Jun 10, 2013 - This is absolute complete garbage!.

brabus8317 Says:

Jun 10, 2013 - This woman is a caveman.

RE Hamrick Says:

Jul 26, 2013 - Not really. The military gave people jobs, forced the gov to spend (but not too much), etc. Also, the natural cycle of the economy (Prosperity, rescession, depression, recovery) means that the US had to recover at some point. So no, massive spending does not affect your rescession, but the war put people to work. Also, the economy was going to recover at some point

captainjack77 Says:

Feb 28, 2013 - And you're trying to correlate a free market to the great depression, which is to grossly misread history. I may have suggested it before, but I encourage you to read America's Great Depression, by Murray Rothbard - even if you disagree with the notion that government intervention was the cause of the Great Depression, I think it would be worth while to read an alternate view to what has been force fed to you all your life, by supporters of big government.

ymkamara420 Says:

Feb 10, 2013 - "A common argument in support of infinite borrowing - but it's false. Debt has to be repaid! " What is U.S debt dominated in? dollars. What can the U.S create dollars? So it no problem Inflation? we printed over a trillion dollars over the Q.E's where is this hyperinflation?

Omar Suleman Says:

Jun 9, 2013 - damn

Jay Maynard Says:

Dec 13, 2011 - Puncturing the myths of the Great Depression, the New Deal, and Keynesianism.

never mind Says:

Nov 20, 2013 - 77 Obama supporters disliked this video!

apope06 Says:

Jan 24, 2014 - The reason why you never hear about the depression of 1920 is because it never was a depression. It was a recession and can not even be compared to the crash of 1929. 1920 was a mild market correction from a wartime economy to a peace time economy. Also, Hoover was not a Keynesian and he proposed "voluntarism" as a way of dealing with poverty and suffering and not government intervention. He was a traditional conservative in that he believed in balancing the budget to fix the economy. He was not a Keynesian and did not believe the govt. had a role in creating jobs in the economy. Increases in taxes are not necessarily Keynesian because even Keynes favored govt. spending via tax cuts to create demand. In the end, GDP growth under FDR was twice what it is now (but when he tried to cut spending & balance the budget in 1937 it created a recession)..but most importantly, his policies created the fundamentals for long term prosperous growth via labor rights, minimum wage increases, and social security. If it wasn't for the New Deal.. growth would not have lasted for 30 years...

Travis Collier Says:

Jan 3, 2014 - well isn't this video a nice piece of propaganda

Joe LaGreca Says:

Apr 13, 2014 - I like her. She really knows what she's talking about.