The problem is not that there is nothing that needs to be fixed. The problem is that the crowd in Washington is far more likely to make things worse rather than better.
—
Dan Mitchell, from “An Invaluable Economic History Lesson from Thomas Sowell: Politicians Should Only “Do Something” If that Means Doing Less”
A fascinating look at different approaches to combating unemployment and recession. The “less government spending” approaches of Reagan and Harding resulted in almost immediate recovery, while the “we must do something” approaches of FDR, Hoover and Obama only prolonged the mire.
History just might have the answers we need.
