Sunday, November 30, 2008
Is Another New Deal the Answer?
"Early in what became the Great Depression, John Maynard Keynes was asked if anything similar had ever happened. 'Yes,' he replied, 'it was called the Dark Ages, and it lasted 400 years.' It did take 25 years, until November 1954, for the Dow to return to the peak it reached in September 1929. So caution is sensible concerning calls for a new New Deal." And so begins a thought provoking Nov. 28 article, "Same Old New Deal?, " by George Will in the Jewish World Review.