View Full Version : Leftist views of the Great Depression?
inyourhouse
12th February 2010, 15:28
I'm just interested in finding out what leftists believe caused the Great Depression and what they believe caused the recovery. In another topic[1], the user IcarusAngel stated that the New Deal was the main cause of the recovery. I disagree, and that topic contains some of my arguments to that effect. Nevertheless, I would like to know whether this view is typical.
[1] revleft.com/vb/fdr-revisionist-myths-t128714/index.html
Zanthorus
12th February 2010, 16:58
I haven't really studied it and I wouldn't know what the correct lefty line to take would be. But the best explanation I've heard for the inital crash is Fisher's Debt-Deflation theory.
As for how we got out of the crisis I haven't really got a clue I'm afraid.
The Idler
12th February 2010, 20:08
Wasn't it a glut of overproduction?
graffic
12th February 2010, 21:26
It was caused by massive overproduction, people spending beyond their means and banks lending beyond their means.
As usual the working class infantry felt the pain hardest when the system came crashing down
mikelepore
13th February 2010, 08:47
"The Great Depression", 33 page pamphlet, Socialist Labor Party of America
http://slp.org/pdf/others/gr_depress.pdf
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