Friday, June 10, 2005

Krugman says: Egalitarian Democrats engineered the Great Depression and World War II.

From Paul Krugman's column today:

"...let me just point out that middle-class America didn't emerge by accident. It was created by what has been called the Great Compression of incomes that took place during World War II"
He gave more details about this earlier, in an article in The Nation:

During the 1930s and '40s, however, America experienced what the economic historians Claudia Goldin and Robert Margo have dubbed the Great Compression: a drastic narrowing of income gaps, probably as a result of New Deal policies.
What happened during the 1930s? Hmmm.... The Great Depression. And in the '40s, yes, there was the aforementioned World War II.

Yikes... the Great Depression and World War II were "New Deal policies"! And they were no accident!

[For more on the data slicing-and-dicing used to claim upside economic consequences from Depression and World War, read on...]