[quote]gunsaregood wrote:
[quote]Ryan P. McCarter wrote:
[quote]gunsaregood wrote:No, the government already seen to it people did not have money with income taxes in 1913, in order to pay for socialistic programs. Besides that, if you care to explain how “the market already made sure no one had any money,” I will listen. Otherwise, it does not make sense.
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The normal operation of the economy had produced such a wide gap in incomes that the population was rendered unable to purchase the goods they produced. Aggregate demand collapse, and with it production. This is why high graduated taxes usually produce economic stability (in the absence of any other destabilizing tendencies, of course).
Think about it: if “socialistic” policies were to blame, wouldn’t people blame them, especially in the pro-capitalist USA? Why did the Depression produce such a widespread contempt of laissez-faire if socialism was to blame?[/quote]
It was not the markets that rendered people unable to purchase, it was the FED(government, because afterall the FED and government are inseperable) who contracted the money supply, which resulted in a regular cyclical downturn becoming the Great Depression.
The Depression did not cause such a widespread contempt of Laissez-faire among people. I caused widespread contempt of laissze-fair for the progressives and their movement, which they used as a tool as propganda to then pursuade the people.
Your view, of the uneven distribution of wealth, is based upon the fact that government has to step in and redistribute the wealth, as Obama has said he will do. Those weak peope of then and those now, who like and want a nanny state are going to believe your view. [/quote]
Whatever you want to believe.