The Great Depression Was Ended by the End of World War II, Not the Start of It
This column by ACRU General Counsel Peter Ferrara was published November 30, 2013 on Forbes.com.
A common fallacy is that the Great Depression was ended by the explosive spending of World War II. But World War II actually institutionalized the sharp decline in the standard of living caused by the Depression. The Depression was actually ended, and prosperity restored, by the sharp reductions in spending, taxes and regulation at the end of World War II, exactly contrary to the analysis of Keynesian so-called economists.
True, unemployment did decline at the start of World War II. But that was a statistical residue of […]

