Top Three Myths about the Great Depression and the New Deal
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Historian Stephen Davies names three persistent myths about the Great Depression. Myth #1: Herbert Hoover was a laissez-faire president, and it was his lack of action that lead to an economic collapse. Davies argues that in fact, Hoover was a very interventionist president, and it was his intervening in the economy that made matters worse. Myth #2: The New Deal ended the Great Depression. Davies argues that the New Deal actually made matters worse. In other countries, the Great Depression ended much sooner and more quickly than it did in the United States. Myth #3: World War II ended the Great Depression. Davies explains that military production is not real wealth.; wars destroy wealth, they do not create wealth. In fact, examination of the historical data reveals that the U.S. economy did not really start to recover until after WWII was over. Watch more videos: http://lrnlbty.co/y5tTcY
Comments
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HOW THE RICH KEEP PEOPLE IN THE DARK. Thanks.
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Holy shit, the amount of economically illiterate buffoons on this comment board hurts. Most of them say "this is wrong," "libertarian propaganda," or "where are your citation?" all without providing things to back their "arguments" up.
Look, Learn Liberty's videos feature people who have a prolonged education and/or career in economics. Sure, they don't provide citations (I wish they would so 75% of you leftist morons would shut up), but unlike you, the basement dwelling 20-something-year-old who gets his/her economic/political information off of Reddit (aka bandwagoning), the people at Learn Liberty know what the fuck they're talking about. -
Nonsense
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this guys wrong
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But if it's other countries' wealth that is destroyed you are at least better off as the only one with an intact industry.
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I concur war takes away wealth with the exception of perhaps a few...defense contractors and undertakers for instance, however, the war did allow (force) the USA to come together and fight and build an industrial foundation which allowed the USA to prosper once men/women came home and commenced building more roads (interstate system built by Eisenhower) change the military building to building washing machines, stoves, homes, cars, freeing up women to perform other functions. Ever wonder why the Japanese entered the USA car market ~ 25 years after WWII? Their factories and processes they built up after the war were more advanced than ours at that time.
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"Most historians agree" that right there is the kind of language that totally discredits a claim. Like a creationist saying "most biologists disagree on evolution"
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I found a solution to the problem: "Commonwealth!" Here's an example of how: a talented entrepreneurs enjoys the challenge to create a successful business. He then sells it to his employees, who then become owners; i.e. don't depend anymore on unions and low wages.
The entrepreneur gets his money back with some extra and starts a new venture... and again selling it to his employees etc. and every time the entrepreneur gets his money back with some extra and starts an even bigger venture... Gradually, we all become self-employed business owners! If then the more greedy ones own more, the less greedy ones won't envy them. Imagine how proud an entrepreneur then could be after having turned 2000 low wage earners into well to do business owners!
So, why it is not happening? Because most (if not all) talented entrepreneurs suffer from sordid greed! They believe only their talents deserve all the materialistic riches in our world. :( Reason: They failed to dismantle their inherited/ or environmentally acquired negative traits and thus are unable to develop their full human potential!
Are they not worried that their grossly selfish behavior in the long run might ignite yet another massive "Kristallnacht" type revolt? -
yeah, but if i can make the others poorer than me by a war, that means i'm relatively wealthier. and that's what wealth is all about.(as i understand it at this moment. please, feel free to debate my statement.)
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1. What created the Depression of 1929 was the Federal Reserve and their fiat money of debt and the printing of debt. We were once again put in harms way financially and economically when the banksters paid off Congressmen and passed the Federal Reserve Act of 1913.
2. WW2 was a another banker war like all wars and Germany was the victim, not the aggressor. I hope Learn Liberty does a video on the myth of the holocaust.
3. Rockefeller and Rothschild made billions off WW1 and WW2 and to these people, who started the wars, that's all that matters...There was plenty of politicians and their banker friends that literally make a killing off military aggression in any form.
I would say the top three myths...The Federal Reserve Act of 1913 was legally ratified.
The United States entered WW1 to fight for our freedom. And Germany wanted to conquer the world and the holocaust actually happened. -
@IsaiahYoung well if you want to battle on "what works", youll find that nothing works. nothing is utopian. nothing sits in place so long as humans run it. and that is why humans will struggle no matter what. the best thing to do is find whats the fairest and stick with it.
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FROM SYCOPHANT TO GHETTO
It happens every day, The military attempts to remake down and out pavement pounders, but fights a losing battle. This is a crime against humanoids. We discover individuals, many, that have given over to drugs. These unsettled and misunderstood souls never had a chance.This element originally hung on street corners, pool halls and etc., sleeping in dumpsters, at times, having been in prison and no friends. This life had been an avenue of ghetto existence.
However, a bright future is in sight, when the military is to be a way out for a bum to become something. It offers three meals per day, a place to sleep and a monthly check. With caps in hand, usually, these types of individuals pleads with a judge, or probationary officer, to swipe their record clean, for the military will now take them off the streets. Too, and the city gets rid of side-walk pounding ravagers.
Here, after settling down with multiple groups of men, friends are made. Yes, it is thought that new fair-weather pals brings on a some what elevated life. It is great to be accepted for an unknown out sider. What a life. There is a lot of drinking, friendly arguing, paling around and hand shaking, and usually playing up to some superior, as a certified sycophant. Wow, its’ a wonderful life. All of a sudden, after amounting to something, getting under the wings of Uncle Sam, a shallow world falls apart. The military gets smart. Out of no where,a psychiatrist holds a conference. This imposing misfit is presented with a section eight discharge, as unfit for military life. And now, this loner is back on the streets from whence he sprang.
From nothing to the top, its back to street corners and dumpsters. All of his former military buddies are left behind. No one, takes up time nor notices a distraught personality, who all of a sudden, became nothing again, no peers, no nothing, no free liquor nor cigarette bumming, and from the top back to the bottom. Here we blame judges, and probation officers, for palming off a misfits onto the taxpayers responsibilities.
The lesson to be taught here is that the military has indirectly contributed to men being discharged with mental disabilities, that should have never entered any service in the beginning. Once more, political whoredom has produced double-decker schizophrenics,returning home to roam the streets in America. And time marches on, the constructing of so-called half-way houses continues, in order to harbor hand-me-down paranoids. And the circus moves on. There is only one last try for such vagabonds, and that is to become a lawyer or a politician. As King Solomon surmised, “All is vanity”. It is best to stay away from those of whom seek unlikely pathways that eventually leads to an ugly ending.
The military is a great experience for young men to build character. However, all rabble rousers should be avoided that prefer to bum the streets. One last hope is to become a used-car salesman or insurance peddler. -
"wars don't create wealth, they destroy it"??? It certainly creates wealth for the arms and munitions manufacturers! He lost me from the get go
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Actually the video clip, "Thinking Backwards" explains The Great Deception much better.
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though war is not good
all war profiteers to jail
we should be on Mars by now if not for dumbass reagan
and read about how WW1 caused WW2 and Crimea war is when rothschilds took over brit stock market with the 1 day late horserider detained
I've been in 3 civil wars, the beautiful people I love in Central America and the Mayans were killed by the thousands for what GREED get real whatever this guy says war benefis ultimately only a few -
This video is capitalist propaganda. Capitalism requires systematic hierarchy-based violence to exist. It is not surprising that the Elder White Males in this video are conveniently ignorant of that fact. Without organized nation-state violence, capitalism would implode very, very quickly.
I'm interested in a world governed by REASON rather than violence. I'm interested in the very real possibility for world peace and the end of poverty, so I am therefore by necessity opposed to both capitalism and the nation-state.
Upvote this if you like reason more than you like violence.
Yours in solidarity and compassion,
World Citizen Seraph -
get your liberal friends to see this!
#thegreatdepression
so then what caused the great depression? the FED of course !!
#FED the 100-year-scam ... and counting! -
I love how this guy makes up his own history. I used to teach American History 101 and there is no way he can say Hoover was an interventionist and FDR prolonged the depression . Even the populace knew better and elected FDR for 4 terms. The teabaggers need to get off the crack pipe. LOL
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Obvious Lies
War destroy wealth.......................Contrary to every war that has ever been waged (spoils always go to the winner)
I like how he keep repeating the phrase as if the more times he says it the more it will become true.
Wars are often one of the easiest ways to stimulate the economy since war itself is composed of many industries.
It's just immoral to do so. That is why we Americans are immoral people. We allow it and ignore it.
P.S. Putting up some old Brit to make your lies sound credible is pathetic -
The only difference between Bush Jr. and a Libertarian is that Libs don't bother to pretend to be religious.
This is the most obvious an easiest to disprove revisionist history I Have read in a while. Why not say Aliens built the pyramids too.
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