In Reply to: Re: now and then posted by Carole on November 9, 2001 at 10:19:36:
: If we didn't have the lesson of the Great Depression, the government would probably not be talking about economic stimulus packages like they are now. We wouldn't have unemployment insurance and all the programs that help people in need. I think we'd be in serious trouble if we followed a pure neoclassicalist approach.
: : It we didn't know now what we didn't know when the Great Depression occurred, is it likely that we'd be going through the same thing right now? How close is our economic situation today to that of the late 20s? I wonder what state we'd be in right now if we all thought neoclassically and waited for the economy to correct itself.
: : : The great depression in the 20's is simmilar to the economic situation we are in today as stated in class, however now we have all the programs that Roosevelt created. Is that the only diffrence in situation? After Roosevelt created the programes that he did to help the American people, did other countries do the same? Wasn't his programs seen alittle communist (as the word was understood at the time).
There are major differences of the time period though. For instance, the globilization of today surely present new conflicts in today's economic situation from those of the Great Depression. How would America's economic involvement with so many other countries provoke new problems compared to the conflicts dealt with during the Great Depression
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