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Archive of posts published in the tag: Depression

The Function of Depressions

While teaching at Harvard economist Joseph Schumpeter organized an informal seminar with like minded thinkers called the Seven Wise Men.  They published a piece attacking the New Deal of FDR: Recovery is sound only if it does come of itself.…

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A Return to Normalcy

From The Wit and Wisdom of Will Rogers edited by Alex Ayres When the nation plunged into the Great Depression in the late 1929, President Hoover swiftly took bold action.  He appointed a commission to investigate. “I could have told…

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