On Wednesday, August 19, 2009 at 17:08:13 (-0700) David B. Shemano writes: >Rudy Fichtenbaum writes: > >>> During the depression the unemployment rate peeked around 25% in 1933. >>> It went down to 15% in 1937. From 1933 to 1936 real federal spending >>> increased increased 100%. (I am looking at index numbers for the >>> quantity of real GDP). Presumable the increase was associated with the >>> New Deal spending and it seems to have worked. > >Why do you presume the correlation equals causation?
Basic economic theory says this should happen, and it does. Why is this so hard to understand? Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
