I couldn't elaborate enough about it in a single post, but I do believe that the Depression could have been minimized significantly, and even prevented. I certainly don't believe "The New Deal" was a good idea, and I further don't like the mass subsidization of electricity that was done at the federal level. People like to point to the Hoover Dam as part of it, and I think to myself, that's the best thing you got? The starving people and rations should be overlooked because we built dam... Yeah, you can say the Hover Dam was good and because it was legitimately supported by the people, I can accept that. But I wont accept taking one good example to cloud over all of the bad moves that happened afterwards, nor will I accept that we also used War as an excuse for much.
But as you might already know, I am not a
salt-water economy type person. I don't think all aspects Keynesian economics fail, I just don't trust a manipulated currency over a truly organic marketplace. At least Keynes himself was a very nice guy, very likeable, especially considering that he was born with a silver spoon in his mouth from a considerably wealthy family. But, you know politics... and hell, mostly anyone who just wants to prove their own bias. They took the part of Keynes that they liked, and disregarded his methods of correction and did whatever the hell they wanted to grab power from the people. Keynes himself warned us before he died that politicians abused his ideas and they were on the wrong track. Like I said, he was a very nice and approachable guy, he was friends with many economists of opposing views. He got along with Austrian Economists and debated fairly with them, not like many of the god-complex predecessors that are strictly biased and political today(*cough* Krugman). LOL
But to understand the New Deal, I believe you need to understand John Keynes, because his take on investment cycles and concepts of economic stimulus were the primary reason for how we were able to pump our books up to pay for the New Deal.