>>30556 The New Deal's effects were more psychological than economic. It restored faith in the government and reformed capitalism. So yes, it helped immensely in preventing the kinds of instability that occurred at the same time in Europe and Asia.
>>31681 I think you could also say it was a huge force behind industrializing the nation, particularly out west. Arguably a lot of infrastructure of the 50s and 60s wouldn't have been possible without the New Deal laying the foundations.
So the New Deal helped, it just helped 20 years later...which isn't a bad thing, US government could use a little foresight now and then.
>>31363 Was it really entering the War that helped the economy or the fact that most every other country got bombed to fuck while America was left intact?? >>31616 Hoover didn't do nothing, he subsidized farmers and ship builders. He started a billion dollars worth of public works, including what would eventually be called the Hoover Dam.
>>31386 Can you give an example of the market righting itself without state intervention. By 'the market' I of course mean the market and not a very specific sector of the market. Because for a market to be considered free there can't be a plurality of markets.
>>32639 What was wrong with the economics of the New Deal? The common argument that it was the war and not New Deal programs that "ended" the Depression is like saying the ND spending policies just weren't large enough -- the war being a very effective Keynesian stimulus project. The protections for labor set out in the New Deal are responsible for the middle class standard of living that arose post-WW2 and is now being slowly dismantled now that capitalists don't have a viable socialist alternative to fear.
>>32656 >implying market depression mattered pre-industrial revolution >implying money pre 1900s wasn't backed up by actual gold
Once we went into mass manufacturing and living in large urbane centers, depressions were actually destructive, but beforehand they never got out of control because you always had to have material wealth to back it up.
Essentially the economy was too small until post WW1 for any depression to actually do any major, lasting damage.
There is definitely some truth to the market righting itself...but the economy hasn't been small enough for that in about a century.
To be fair to Hoover, he was a strong believer in a voluntary "associative" state in which the government interacted with corporations and the public through commissions and expert advice in order to advise and help guide the economy towards the most beneficial outcome. He didn't believe in direct aid to corporations or individual Americans, which is why his attempts to keep the market propped up via voluntary wage and price agreements between labor and big business failed as the Depression deepened and corporations began breaking these deals. With no effective means of enforcing these negotiated solutions, the economy failed.
Hoover's unwillingness to directly support Americans with federal aid doomed his Presidency. But despite this, he made every possible attempt he felt the government could make to improve the economy without overstepping what he felt were the limits of federal intervention.
>>30556 It saved the American economy. >war helps the economy It objectively did because America didn't do any fighting until 1942 by which time all the dirty stuff had been more or less been done. Between 1939-1942, the USA thrived from exporting goods to Europe to fund the war effort. In return, the USA's gold (there was a gold standard back then) supply went from roughly 20% to 70% of world reserves. This is basically why the military industrial complex exists: war is profitable to the people funding it. >>32520 >Austrian economics top kek
>>32931 >war helps the economy It objectively did because America didn't do any fighting until 1942 by which time all the dirty stuff had been more or less been done. Between 1939-1942, the USA thrived from exporting goods to Europe to fund the war effort. In return, the USA's gold (there was a gold standard back then) supply went from roughly 20% to 70% of world reserves. This is basically why the military industrial complex exists: war is profitable to the people funding it.
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