Tuesday, November 10, 2009

A Depression Averted

I stumbled upon this website while browsing Professor Paul Krugman's blog. The plots in this website convince me that

(1) What happened last year very similar to 1929
(2) Governments knew how to handle this downturn quite well, thanks to Keynes
(3) It looks like things are getting better again

Though plots pertaining to India and China are not shown here (primarily because they did not matter back in 1929), I anticipate that would be interesting reading too.

These plots do indeed make the case for economic stimulus very strong. I would like to see conservatives reply to this.

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