Friday, October 17, 2008

The "Mysterious" Great Depression?

George Selgin:
What's puzzling is not that the depression happened, given policies that were resorted to, but that such destructive policies secured wide support despite their often readily-predictable, adverse consequences. But to call even such perversity a "mystery" is to be guilty of hyperbole. After all, politicians are rewarded for appearing to "do something," and not for their command of "abstract" theories.
That's what scares me!

(HT Don Boudreaux)

No comments: