The new deal was a driving reason why the great depression persisted, i.e it increased the recovery time.

@sɪᴅɪsɴᴏᴛʜᴇʀᴇ Ah, the Austrian perspective

Well I would say it's mainstream accepted now

I would check this paper
https://www.minneapolisfed.org/research/wp/wp597.pdf
> There are two striking aspects of the recovery from the Great Depression in the United States: the recovery was very weak and real wages in several sectors rose significantly above trend. These data contrast sharply with neoclassical theory, which predicts a strong recovery with low real wages. We evaluate the contribution of New Deal cartelization policies designed to limit competition and increase labor bargaining power to the persistence of the Depression. We develop a model of the bargaining process between labor and firms that occurred with these policies, and embed that model within a multi-sector dynamic general equilibrium model. We find that New Deal cartelization policies are an important factor in accounting for the post-1933 Depression. We also find that the key depressing element of New Deal policies was not collusion per se, but rather the link between paying high wages and collusion.

More than it used to be for sure

Yeah

That’s pretty widely discredited, even in Chicago circles people accept Keynesian economics were required to correct demand side failures

"Keynesian economics"?

Yes, are you familiar?

I mean it's a wide term, there's not so much something called "Keynesian economics" anymore.

Anyways, the paper above.
> We find that New Deal cartelization policies are an important factor in accounting for the post-1933 Depression

That’s not accurate, do you have a question about what Keynesian economics refers to with regard to the Great Depression?

Keynesian economics isn't a thing, nor is "Chicago". If you go in an economics faculty nobody is identifying themselves as those names, it's just "economists".

...right

If you talk to economists about that, they’ll know exactly what you mean

Do you understand what I mean or do you need clarification?

Clarify

Ok, Chicago school is sort of the heart of neo-Austrian economics

Keynesian economics with regard to he Great Depression means providing job programs regardless of necessity, in order to provide demand for the market

Do you understand that?

Keynesian is good

Sure,
> Ok, Chicago school is sort of the heart of neo-Austrian economics
This is a word salad

Ok, so you don’t understand that?

There are little remaining of "schools" since the Lucas critique

You’re unfamiliar with Chicago school?

Lol

You’re adorable.

Finish your Econ degree honey

Then come back to the big boys table

That sounded kinda condescending

Yeah, he’s a high schooler who’s read a book

I'm familiar, but there's nothing with 'schools' anymore.

When he learns the subject matter he can debate in earnest

r

https://en.m.wikipedia.org/wiki/Dunning–Kruger_effect @Sophie

This is you.

Lol

That’s an amusing thing for the person with less education to send

But maybe you only thought you understood the effect 😉

Looks like the stock market hadn’t stabilized, it was just responding to expectations of a rate cut

What vindication for anyone who said we need a few days more data