Barack Obama accused of making 'Depression' mistakes

From Edmund Conway writing for the Telegraph.

Barack Obama is committing the same mistakes made by policymakers during the Great Depression, according to a new study endorsed by Nobel laureate James Buchanan.

This article provokes some interesting discussion points. It ends with a recommendation to let capitalism work and to keep politicians out of the mix. An iteresting idea which worked for most of this country's history.

The paper, which recommends that the US return to a more laissez-faire economic system rather than intervening further in activity, has been endorsed by Nobel laureate James Buchanan, who said: "We have learned some things from comparable experiences of the 1930s' Great Depression, perhaps enough to reduce the severity of the current contraction. But we have made no progress toward putting limits on political leaders, who act out their natural proclivities without any basic understanding of what makes capitalism work."

One thing the article does not site is the affect of winning or losing a war has on a recession in a capitalistic society.

To read the complete article, click here.