@ The_Child:
macro-level public works which generated employment and spurred growth; the "multiplier effect". the monetary policy that the classical liberals favored was deemed effective because there was simply not enough money moving inside the economy.
the debate on the cause of the 1930's Depression still rages on. one can blame "government intervention" for supposed market distortions, but the market can also be blamed for allowing the huge speculative bubble to expand way outside the limits of what the economies can take.
of course, the Austrian school was not exactly popular during this time, with its leanings toward the Far-Right, so it can be expected that it had minor influence with the prevailing mainstream theoretical atmosphere at that time. nevertheless, i still cannot find myself to trust it somehow.
if we place the labeling of either "Left" or "Right" on the shoulders of 'subjectivity' we might find ourselves trapped in a quagmire of cacophonous arbitrariness. i believe it is best that standards should be set by using both "economic" and "social" axes.





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