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View Diary: The Great Depression Pt. IV (187 comments)

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  •  I thought they liked unemployment? (2+ / 0-)
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    leftcoastindie, opinionated
    1.  The New Deal doubters cannot dispute the numbers and the overwhelming accomplishments, so they focus on the few incomplete successes (persistent unemployment) and compare the New Deal to "let's pretend as if" fairyland economies that never existed.

    What are they complaining about? in their idealized fantasy economy excess jobless helps keep wages down they hate full employment, Labor shortages are anathema to them... it tends to raise costs and they control less of the total wealth. Though having a population with money to spend is better for them overall... but they are too shortsighted to see that.

    In an otherwise ideal (for them) Hirers market (jobs scarce) Unions and collective bargaining muddies things a bit, but why complain about something that they otherwise think is a "Good" thing? When they are causing it they like it even more... They should see the lingering unemployment  in the late 30's as a boon to industry. But that is not the point of their use of unemployment numbers, they use them to fool ordinary people; non-believers in voodoo economics etc. with "facts" and figures that have a direct connection to their own prosperity.

    Pogo & Murphy's Law, every time. Also "Trust but verify" - St. Ronnie

    by IreGyre on Thu Jan 08, 2009 at 08:35:20 AM PST

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