See
http://en.wikipedia.org/wiki/Recession_of_1937%E2%80%931938 causes unclear according to Wikipedia. Economists disagree about the causes of this downturn. Keynesian economists <http://en.wikipedia.org/wiki/Keynesian_economics> assign blame to cuts in federal spending and increases in taxes at the insistence of the US Treasury <http://en.wikipedia.org/wiki/US_Treasury> ,[4] <http://en.wikipedia.org/wiki/Recession_of_1937%E2%80%931938#cite_note-3> while monetarists <http://en.wikipedia.org/wiki/Monetarism> , such as Milton Friedman <http://en.wikipedia.org/wiki/Milton_Friedman> , assign blame to the Federal Reserve's tightening of the money supply in 1936 and 1937.[5] <http://en.wikipedia.org/wiki/Recession_of_1937%E2%80%931938#cite_note-4> Austrian school <http://en.wikipedia.org/wiki/Austrian_school> economist Johnathan Catalan <http://en.wikipedia.org/w/index.php?title=Johnathan_Catalan&action=edit&red link=1> assigns blame to the relatively large expansion of the money supply from 1933 to 1937. He also notes that the money supply did not tighten until after the recession began.[6] <http://en.wikipedia.org/wiki/Recession_of_1937%E2%80%931938#cite_note-5> From: [email protected] [mailto:[email protected]] On Behalf Of Keith Hudson Sent: Monday, September 10, 2012 2:05 PM To: RE-DESIGNING WORK, INCOME DISTRIBUTION, , EDUCATION; Ed Weick Subject: Re: [Futurework] Bill Clinton's Speech at the Democratic National Connection At 15:29 10/09/2012, you wrote: Wow! I guess I have to accept that you didn't like him. Ed It's not for me to like him or dislike him. He was a superb manipulator. But America could have done with a far better, more discriminating President during those dire times. Over here, we (finally) devalued the pound and we grew our way out of the Great Depression fairly quickly. Instead, Roosevelt went the other way from 1936. He had some weird ideas and weird friends. One of his principal economic advisors was a poultry farming neighbour. The person he chose to be the principal negotiator at an important international monetary conference held in London at that time was someone who shot up the street lights in one street, chased another negotiator around the corridors of the Clarence Hotel with a gun and, after one particularly convivial evening session was found to be sitting stark naked in a kitchen sink at the Clarence Hotel pretending to be a Greek statue. Keith ----- Original Message ----- From: Keith Hudson <mailto:[email protected]> To: RE-DESIGNING WORK, INCOME DISTRIBUTION, , EDUCATION <mailto:[email protected]> ; Ed Weick <mailto:[email protected]> Sent: Monday, September 10, 2012 12:14 AM Subject: Re: [Futurework] Bill Clinton's Speech at the Democratic National Connection At 13:01 09/09/2012, you wrote: Hey, what about Franklin D. Roosevelt?! Ed He was a ditherer who neither understood the simplest concepts in economics, nor ever wanted to. In the worst years of the Great Depression he chose "Happy Days are here again" as his campaign song, as though being cheerful would solve the problem. His policies ran as much backward as forward -- according to the latest idea that caught his eye. Despite US exports (and thus employment) beginning to re-establish themselves again by 1936, he then clobbered them in his second term by allowing the Fed to tighten the dollar. Unemployment never started to reduce seriously until America was forced into war in 1941 by the Japanese (and hadn't even fully recovered by the end of the war). Keith ----- Original Message ----- From: Keith Hudson <mailto:[email protected]> To: RE-DESIGNING WORK, INCOME DISTRIBUTION,EDUCATION <mailto:[email protected]> Sent: Sunday, September 09, 2012 1:55 AM Subject: Re: [Futurework] Bill Clinton's Speech at the Democratic National Connection At 20:23 08/09/2012, you wrote: https://www.youtube.com/watch?v=i5knEXDsrL4 <https://www.youtube.com/watch?v=i5knEXDsrL4&feature=related> &feature=related I just got a chance to listen to Bill Clinton's speech to the DNC. A truly masterful political speech... . . . and from one of the few truly great American Presidents of the last century (the others being Teddy Roosevelt and Dwight Eisenhower). Keith Almost, but not quite as good as some of those by Tommy Douglas. https://www.youtube.com/watch?v=C2oUInTUlAM M _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework Keith Hudson, Saltford, England http://allisstatus.wordpress.com <http://allisstatus.wordpress.com/> _____ _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework Keith Hudson, Saltford, England http://allisstatus.wordpress.com <http://allisstatus.wordpress.com/> Keith Hudson, Saltford, England http://allisstatus.wordpress.com <http://allisstatus.wordpress.com/>
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