Wednesday, November 9, 2011

Progressive Versus Conservative Economics

Progressive Versus Conservative Economics


Not only has the general growth of the U.S. economy been slower since the conservatives took over, but, as both Krugman's chart and a whole host of other charts have shown, the income distribution has been far worse for the vast majority of Americans as well.

Why did I pick those particular periods? They roughly represent the times when first progressives, and then conservatives were in charge of the American economy. There were good times within both periods, as well as bad. We've conducted a seventy year-long experiment in the power of these two differing economic philosophies. To conclude that the conservatives did better requires a lot of mental contortions that I'd just as soon avoid.

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