Understanding Fiscal Policy During the Great Depression.
What Krugman seems to be saying is that the government didn't spend enough during the thirties...Woah gosh 54% marginal tax rise during the Great Depression! This is cool Keynesian thing. He was a nice guy, one stage he was a gay too, what an interesting guy was, I have been thinking acutely I was attracted by one of his writing it was beautiful piece of writing, that was why I started thinking economic different way. But economists in general, do they have any soul? Seem to me that bit of cold heartless bunch of flea!
During the Great Depression federal expenditures increased tremendously but so did taxes. Thus, the reason spending was not stimulative was not that spending wasn't tried it's that taxes were also raised to prohibitive levels.
