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Tag Archives: World War II

World War II, not the New Deal, is the model for COVID-19 macroeconomic policies

Central planning (Socialism?) in democratic societies There is a lot being written on the causes and cures for the economic consequences of the Coronavirus (COVID-19). The predictable distinction is among those that think that this is essentially a demand shock, mostly to services, and those that are concerned with the disruption to supply chains. And to some extent both are correct. But that is not the more relevant problem here, which is whether we need just more government or a...

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Keynesianism could probably have prevented World War II

Let us look at the simple facts relating to the rise of the Nazi party in the 1930s.This is the Nazi party share of the vote in federal elections in the Weimar Republic from 1924 to 1933: Date | % of Vote | Reichstag Seats May 1924 | 6.5% | 32 Dec. 1924 | 3.0% | 14 May 1928 | 2.6% | 12 Sep. 1930 | 18.3% | 107 July 1932 | 37.3% | 230 Nov. 1932 | 33.1% | 196 March 1933 | 43.9% | 288 http://en.wikipedia.org/wiki/Nazi_Party#Federal_election_results By 1928, during the economic boom in Germany,...

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