Theres an interesting article here; capx.co/what-did-britain-really-look-like-in-the-1930s/ I remember my father telling me when I was quite young that the great recession of the 1930s was ended by FDR spending money the US government didnt have to build stuff they didnt need, and I thought it was, well, peculiar, at the time (although I was far too well mannered in those days to say so). Now we all* know its bollocks, but it was the received wisdom for a long time. In reality the 1930s in Britain were a period of economic growth, which occurred because taxation and government spending were both cut. There is a lesson there for today, especially in the context of the money that the government intends to waste on (inter alia) HS2. * Except for the retards in the Labour Party.
Posted on: Sun, 21 Dec 2014 19:49:48 +0000
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