Do you really think economics has nothing to do with policy?We spend far more on transfer payments now than we did then. How would that make sense given that we have not had a crisis nearly as bad since?
Pure, unadulterated BS. It just looks that way because of historical perspective. There is no teleology guiding us to the present - what happens if Huey Long isn't assassinated? What happens if the Japanese don't bomb Pearl Harbor, and the UK and Germany make a separate peace?The threats of a fascist revolution/coup in the 1930s were and remain greatly overrated. The Business Plot in particular.