- Oct 6, 2008
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As the saying goes, "Not facts, nor data, nor experience, nor rational debate will convince Liberals."
And nowhere is this more true than in the field of economics.
From FDR extending the recession into 'The Great Depression," and extending the time it burdened the American population, to Obama's 'Stimulus,' Liberals/Progressives speak Swahili better than they plan economic policies.
A few examples of ineptitude.
1. Roosevelt's Director of the Bureau of the Budget, Lewis W. Douglas, said this about FDR's regime:"...a tyrannical, oppressive bureaucracy controlling our lives, destroying progress, depressing the standard of living..."
FromThe Liberal Tradition: A Free People and a Free Economyby Lewis W. Douglas, as quoted in "Monetary Central Planning and the State, Part XIV: The New Deal and Its Critics," byRichard M. Ebeling inFreedom Daily, February 1998, p. 12.
2. It was not capitalism that failed...but government regulation...
"Almost all the failed banks were in states with unit banking laws" — laws that prohibited banks from opening branches and thereby diversifying their portfolios and reducing their risks. Powell writes: "Although the United States, with its unit banking laws, had thousands of bank failures, Canada, which permitted branch banking, didn't have a single failure ...".'
"FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression," p. 32, By Jim Powell
3."... the nation’s first comprehensive minimum wage law in 1938. .... The minimum wage law prices many of the inexperienced, the young, the unskilled and the disadvantaged out of the labor market. (For example, the minimum wage provisions passed as part of another act in 1933 threw an estimated 500,000 blacks out of work)
Benjamin M. Anderson,Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-46, 2nd edition (Indianapolis: Liberty Press, 1979), p. 336.
Limitations of time and space preclude a discussion of the immense failure of 50 years of Liberal welfare policy, and the $22 trillion it has cost the economy.
Successes by Liberals/Progressives in the realm of economics are as rare as hen's teeth.
And nowhere is this more true than in the field of economics.
From FDR extending the recession into 'The Great Depression," and extending the time it burdened the American population, to Obama's 'Stimulus,' Liberals/Progressives speak Swahili better than they plan economic policies.
A few examples of ineptitude.
1. Roosevelt's Director of the Bureau of the Budget, Lewis W. Douglas, said this about FDR's regime:"...a tyrannical, oppressive bureaucracy controlling our lives, destroying progress, depressing the standard of living..."
FromThe Liberal Tradition: A Free People and a Free Economyby Lewis W. Douglas, as quoted in "Monetary Central Planning and the State, Part XIV: The New Deal and Its Critics," byRichard M. Ebeling inFreedom Daily, February 1998, p. 12.
2. It was not capitalism that failed...but government regulation...
"Almost all the failed banks were in states with unit banking laws" — laws that prohibited banks from opening branches and thereby diversifying their portfolios and reducing their risks. Powell writes: "Although the United States, with its unit banking laws, had thousands of bank failures, Canada, which permitted branch banking, didn't have a single failure ...".'
"FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression," p. 32, By Jim Powell
3."... the nation’s first comprehensive minimum wage law in 1938. .... The minimum wage law prices many of the inexperienced, the young, the unskilled and the disadvantaged out of the labor market. (For example, the minimum wage provisions passed as part of another act in 1933 threw an estimated 500,000 blacks out of work)
Benjamin M. Anderson,Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-46, 2nd edition (Indianapolis: Liberty Press, 1979), p. 336.
Limitations of time and space preclude a discussion of the immense failure of 50 years of Liberal welfare policy, and the $22 trillion it has cost the economy.
Successes by Liberals/Progressives in the realm of economics are as rare as hen's teeth.