10 Myths About FDR and The Great Depression

10 Myths About FDR and The Great Depression

Photo by woodleywonderworks 1. Government Spending Ended the Great Depression A commonly held belief is that government spending stimulated the economy and eventually ended the Great Depression. Reality is excessive government spending took badly needed resources from the private sector and spent them on insolvable government programs and jobs that produced no real values. The…

Regulatory Capture: Wolves Guarding Hen Houses

Regulatory Capture: Wolves Guarding Hen Houses

Regulatory Capture is a  process by which regulatory agencies become dominated and directed by the corporations or special interests they are supposed to be regulating. It’s like putting the mafia in charge of writing regulations for bookmaking. Most generally associated with Nobel laureate George Stigler and postulated as an actual theory in the early 1970’s,…