ROFL. That’s an ahistoric narrative. The Great Depression was caused by a lack of liquidity caused by a failure to respond to mass withdrawal. FDR then made it worse with the New Deal, causing a double-dip that only resolved itself with the WWII wartime economy.
It was the lack of Federal Reserve banks and the failures of their predecessor organizations. Vaguely blaming “capitalism” is purely ignorance combined with intellectual laziness.
The modern problems can be laid at the feet of Reagan and Nixon, mostly. Bush Sr and Bush Jr contributed. But it’s mostly Nixon and Reagan that helped corrupt the antitrust framework. The fallout breaking up Ma Bell and the Microsoft Antitrust case about Internet Explorer were both critical decisions instrumental to this deterioration.
Feel free to read Friedman’s Economic History of the United States. His treatise is the most authoritative on the subject and has withstood decades of peer review.
There is quite literally no need to be making stuff up, like you’re doing.
ROFL. That’s an ahistoric narrative. The Great Depression was caused by a lack of liquidity caused by a failure to respond to mass withdrawal. FDR then made it worse with the New Deal, causing a double-dip that only resolved itself with the WWII wartime economy.
It was the lack of Federal Reserve banks and the failures of their predecessor organizations. Vaguely blaming “capitalism” is purely ignorance combined with intellectual laziness.
The modern problems can be laid at the feet of Reagan and Nixon, mostly. Bush Sr and Bush Jr contributed. But it’s mostly Nixon and Reagan that helped corrupt the antitrust framework. The fallout breaking up Ma Bell and the Microsoft Antitrust case about Internet Explorer were both critical decisions instrumental to this deterioration.
And what caused the mass withrawal?
Feel free to read Friedman’s Economic History of the United States. His treatise is the most authoritative on the subject and has withstood decades of peer review.
There is quite literally no need to be making stuff up, like you’re doing.