- First Name
- Feb 20, 2020
- Reaction score
- Prince George BC
- Correctional Officer
Correct - the great depression was caused by Wall Street - ( who still hasn't learned their lesson or been regulated effectively ) the spending of World War 2 was what ultimately ended the depression.That's because excessive government debt had nothing to do with the Great Depression. In fact, government spending was at a low, which exacerbated the situation.
We didn't climb out of the depression until massive government spending got us out of it.
Government spending should be counter-cyclical - counter to business cycles - but also, it should spend on things that businesses don't and charity can't. Hence things like social goods, health care, environment, parks, education, and ubi...