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From: mcgeer@ucbvax.ARPA (Rick McGeer)
Newsgroups: net.politics.theory
Subject: Re: Newsflash! [Subsidized Education]
Message-ID: <10313@ucbvax.ARPA>
Date: Sun, 8-Sep-85 22:19:12 EDT
Article-I.D.: ucbvax.10313
Posted: Sun Sep  8 22:19:12 1985
Date-Received: Mon, 9-Sep-85 04:41:37 EDT
References: <955@umcp-cs.UUCP> <1110@umcp-cs.UUCP>
Reply-To: mcgeer@ucbvax.UUCP (Rick McGeer)
Distribution: na
Organization: University of California at Berkeley
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In article <1769@psuvax1.UUCP> berman@psuvax1.UUCP (Piotr Berman) writes:
>  As far as the mixed economy goes, one may notice that it emerged 
>originally as a set of pragmatic solutions, not supported by any
>socialist ideology.  Otto Bismark, who introduced the mixed economy
>in Germany was a conservative with high contempt toward socialism.

Actually, Bismarck was a militarist, with a strong feudalist streak.  If there
is any practical difference between feudalism and socialism, it has escaped me.

>Libertarians claim the Great Depression to be the result of the
>inept state intervention by Hoover administration.  Again it is
>difficult to trace the influence of socialism on Hoover.

Poor old Hoover is always blamed for the depression, but in fact he had little
to do with it.  The proximate cause of the depression was a one-third cut
in the money supply by the Federal Reserve (not a one-third cut in the rate
of increase: a one-third cut in the supply itself).  A contributing factor
was Hawley-Smoot, which I hope the Democrats remember this fall...there is
also some evidence that the New Deal extended the Depression.

					-- Rick.