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Tuesday, December 2, 2008

FDR's 'old' deal!

There is a nice discussion going on over at Dani Rodrik's website.
http://rodrik.typepad.com/dani_rodriks_weblog/2008/11/the-forgotten-side-of-fdr.html?cid=141091536#comments

Its about FDR's policies and how or how not it was, to bring the USofA out of the depression. The idea of experimentation, is at the root of the discussion.

While the various posters are trying to relate that to the Obama team and how they should try new and innovative things to stimulate the economy. One side of the argument, states that FDR's policies were a bunch of hype, in regards to anything new he started that actually helped. And, the other, is quite the opposite.

While I took the notion that experimentation, ultimately leads to diversification, to say that Keynesian style economics does not work, under any circumstance as some have alluded to, is not quite fair.

The reason's behind the attempt may have been off. But, ultimately, Keynesian economics brought the USofA out of a depression--especially in regards to government spending. And, as Obama will find out, printing more money would go along way as well!!

Youri
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