[opendtv] Re: How India is saving capitalism
- From: Henry Baker <hbaker1@xxxxxxxxxxxx>
- To: opendtv@xxxxxxxxxxxxx
- Date: Mon, 05 Apr 2004 09:44:06 -0700
I seem to recall that the Depression in 1929 was the _result_ of a
trade war (Smoot Hawley, et al) in which everyone was so interested
in protecting jobs inside their country, that they forgot that when
the economy becomes less efficient, everyone suffers.
And the trade war itself was the result of the pullback from the
late 1920's bubble.
History tells us that the trade war itself made things far, far worse
after the bubble burst. The US economy was already starting to mend
by 1932, but the combination of the trade war and the antibusiness
policies of the Roosevelt administration snatched defeat from the
jaws of victory.
At 09:10 AM 4/5/2004, Lindhoff, Andrew (PHPPO) wrote:
>The
>business world of the depression era was relatively stupid, by reason of
>the fact that they very coldheartedly and methodically went about the
>business of firing 27% of their own marketplace, and then sat around in
>their mahogany paneled board rooms and wondered why their profits
>decreased each ensuing year.
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