Comments on: Ohanian lays it out…. http://blogs.cfr.org/shlaes/2009/04/14/ohanian-lays-it-out/ Just another Blogs.cfr.org weblog Tue, 02 Jun 2009 07:52:31 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Ron Goodwyne http://blogs.cfr.org/shlaes/2009/04/14/ohanian-lays-it-out/#comment-139 Ron Goodwyne Sun, 10 May 2009 23:56:12 +0000 http://blogs.cfr.org/shlaes/?p=126#comment-139 You don't post nearly often enough. You don’t post nearly often enough.

]]> By: NukemHill http://blogs.cfr.org/shlaes/2009/04/14/ohanian-lays-it-out/#comment-132 NukemHill Mon, 20 Apr 2009 00:31:41 +0000 http://blogs.cfr.org/shlaes/?p=126#comment-132 Heh. Just realized that's exactly what you are saying in your post. I glanced at it briefly, and then dove into the PDF, quickly forgetting your original point. Oh, well. In one ear, out the other. Glad to see this getting some play. You can remove both of these, if you wish. I'm vain enough to not want to sound like a complete idiot! ;-) Heh. Just realized that’s exactly what you are saying in your post. I glanced at it briefly, and then dove into the PDF, quickly forgetting your original point.

Oh, well. In one ear, out the other. Glad to see this getting some play.

You can remove both of these, if you wish. I’m vain enough to not want to sound like a complete idiot! ;-)

]]> By: NukemHill http://blogs.cfr.org/shlaes/2009/04/14/ohanian-lays-it-out/#comment-131 NukemHill Mon, 20 Apr 2009 00:21:02 +0000 http://blogs.cfr.org/shlaes/?p=126#comment-131 One thing that jumps out in the report is the claim that the new labor laws (Wagner Act, etc) of the mid-30s were primarily responsible for causing the "Second Phase" of the Great Depression in '37/'38. He points out that successful unionization and subsequent blackmailing of major corporations caused an artificial spike in wages, resulting in depressed employment. Whereas Krugman et al (pretty much all modern-day Keynesians) have been claiming that the downturn resulted from tightening fiscal policies by Roosevelt. I.e., that Roosevelt's attempt to shrink the deficit and cut taxes broke the back of the imminent economic recovery. Seems like Professor Ohanian's got a pretty solid rebuttal in place. Wonder if it will get much play. One thing that jumps out in the report is the claim that the new labor laws (Wagner Act, etc) of the mid-30s were primarily responsible for causing the “Second Phase” of the Great Depression in ‘37/’38. He points out that successful unionization and subsequent blackmailing of major corporations caused an artificial spike in wages, resulting in depressed employment.

Whereas Krugman et al (pretty much all modern-day Keynesians) have been claiming that the downturn resulted from tightening fiscal policies by Roosevelt. I.e., that Roosevelt’s attempt to shrink the deficit and cut taxes broke the back of the imminent economic recovery.

Seems like Professor Ohanian’s got a pretty solid rebuttal in place. Wonder if it will get much play.

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