Re: [Pen-l] Anticipatory Revisionist History

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

The right wing story was that the expectation of the future passage spooked 
the market.  That is something entirely different.y



On Thu, Mar 05, 2009 at 01:00:23PM -0800, raghu wrote:
> On Wed, Mar 4, 2009 at 9:08 PM, michael perelman
> <michael@xxxxxxxxxxxxxxxxx> wrote:
> > This work follows in a long tradition. For example, their forefathers
> > already figured out that the Smoot-Hawley tariff caused the Great
> > Depression.
> 
> 
> Are they wrong? Is it inaccurate to say that Smoot-Hawley
> *contributed* to prolonging the Depression?
> 
> Doesn't that episode offer valuable lessons on reversing course too
> far, too fast on globalization etc for today?
> -raghu.
> 
> 
> --
> "Due to budget cuts the light at the end of the tunnel has been switched off."
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-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com
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