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The Great Depression of 1946

  • 10-03-2010 10:48am
    #1
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭


    Economists in the US predicted that there would be a great depression in America after World War 2. This did not happen. Not only did it not happen, 1946 was one of the most succesfull years ever.

    Why was there no depression of 1946?


Comments

  • #2
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    Not a shred of data...


  • #3
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    SLUSK wrote: »
    Why was there no depression of 1946?

    America won, people went home happy, started working hard.


  • #4
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Time Magazine wrote: »
    America won, people went home happy, started working hard.
    Are you aware that mainstream economists thought America would slide into a depression when the war ended?


  • #5
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    Nope. Link?


  • #6
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Time Magazine wrote: »
    Nope. Link?
    http://mises.org/journals/rae/pdf/R52_1.pdf


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  • #7
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    Thank you.

    I suppose one could point to the Employment Act, eh Slusk?


  • #8
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    SLUSK wrote: »
    http://mises.org/journals/rae/pdf/R52_1.pdf

    You really need to broaden your reading sources. Seriously, its always links to Von Mises...


  • #9
    Hasschu
    Registered Users, Registered Users 2 Posts: 411 ✭✭Hasschu


    Blame the model. Depressions frequently followed wars prior to WW1, Franco- Prussian, Napoleonic and others. The theory was that gov't spending would collapse once the war ended. Instead the US gov't kept spending on housing for returning troops, post secondary education and many other initiatives. The Depression was fresh in policy making minds, the red scare was rampant, the unemployed rampaging in the streets had to be avoided at all costs. Economists tend to fight past crises given the opportunity.


  • #10
    rightwingdub
    Registered Users, Registered Users 2 Posts: 725 ✭✭✭rightwingdub


    America had very tax rates in the 1940's didn't the top rate of income tax reach 91% in 1944 which wasn't reduced until the early 60's.


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