-
Paul Krugman Schools George Will on the Great Depression
November 17, 2008 |
Advertisement
On ABC's This Week, conservative pundit George Will took up the case against Franklin Roosevelt's New Deal, arguing that it sent confusing signals to capitalists (who apparently might otherwise have pursued lucrative deals in the 1930s market place) and turned a depression into the Great Depression.
Thankfully, Nobel laureate Paul Krugman was around to remind Will of some history -- that the economy improved after the New Deal, and that it was FDR's attempt to balance the budget in 1937 (a move favored now by many conservatives) that then cut into that progress.
Watch:
LIKED THIS ARTICLE? JOIN OUR EMAIL LIST
Stay up to date with the latest AlterNet headlines via email
Stay up to date with the latest AlterNet headlines via email
