This ought to be required reading for every American right now.
Here is a report on a fascinating study conducted by two economists at UCLA. It shows that **GASP** government intrusion and regulation of the free market makes things - are you ready for this? - WORSE!!!
In case you don’t want to read the whole thing, at least read the last paragraph.
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
But since the vast majority of Americans won’t read this, nor take the time to try and understand, we stand a good chance of repeating what they studied. How’s this for ominous (emphasis mine)?
“This is exciting and valuable research,” said Robert E. Lucas Jr., the 1995 Nobel Laureate in economics, and the John Dewey Distinguished Service Professor of Economics at the University of Chicago. “The prevention and cure of depressions is a central mission of macroeconomics, and if we can’t understand what happened in the 1930s, how can we be sure it won’t happen again?“