tag:blogger.com,1999:blog-8595404115121834255.post2059448147329368307..comments2024-03-28T03:24:05.678-04:00Comments on NAKED KEYNESIANISM: Did the New Deal help in the recovery?Matias Vernengohttp://www.blogger.com/profile/09521604894748538215noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8595404115121834255.post-22735072907251431872014-11-22T12:25:33.209-05:002014-11-22T12:25:33.209-05:00Great post, I am familiar with Hausman's work ...Great post, I am familiar with Hausman's work and I hope he keeps pursuing this work on the Great Depression and econ history in general at Michigan - unfortunately, not many young mainstream scholars doing work on economic history! The paper reminds me of the underconsumptionist views of the causes of the Great Depression, something that Temin elaborates on in "Did Monetary Forces Cause the Great Depression?" <br /><br />Here is a great quote from FDR (talking about the National Industrial Recovery Act) in 1933: "The aim of this whole effort [i.e., the NIRA] is to restore our rich domestic market by raising its vast consuming capacity."<br /><br />Social security and the minimum wage were sought for similar reasons.<br /><br />By the way, I've commented on your blog before regarding your work on the Great Depression. I assigned your CJE paper right after discussing Romer. Your econometric methodology is inconsistent and flawed but the students definitely appreciated and grasped your critique of Romer's monetary framework.Daniel MacDonaldhttps://www.blogger.com/profile/07546752099879983120noreply@blogger.com