Tag Archives: Great Depression

Bleeding

Posted on September 19, 2011 by Michaela

By Paul Krugman Doctors used to believe that by draining a patient’s blood they could purge the evil “humors” that were thought to cause disease. In reality, of course, all their bloodletting did was make the patient weaker, and more … Continue reading →

Posted in The world we live in Now | Tagged Austerity, Economic policy, European Union, Great Depression, United States | 1 Comment

Lack of wisdom

Posted on July 22, 2011 by Michaela

By Paul Krugman These are interesting times — and I mean that in the worst way. Right now we’re looking at not one but two looming crises, either of which could produce a global disaster. In the United States, right-wing … Continue reading →

Posted in The world we live in Now | Tagged European Central Bank, Federal Reserve System, Great Depression, Recession, United States | 1 Comment

Conventional wisdom

Posted on June 3, 2011 by Michaela

By PAUL KRUGMAN Earlier this week, the Federal Reserve Bank of New York published a blog post about the “mistake of 1937,” the premature fiscal and monetary pullback that aborted an ongoing economic recovery and prolonged the Great Depression. As Gauti … Continue reading →