[lbo-talk] let's all pray for a depression

[John Thornton]

Seth Ackerman wrote:
> John Thornton wrote:
>
>   
>> I disagree. 1934-37 was indeed a time of rising expectations. 
>> Unemployment fell from 25% to 14% which was one reason for rising 
>> expectations. The govt. stepped in to do what it could to alleviate 
>> problems. Are you telling me that creating the Agricultural Adjustment 
>> Administration, the Civilian Conservation Corps [...etc]
>>
>>     
>
> You're talking about rising *political* expectations. The question at 
> hand was about economic expectations, remember? We were talking about 
> "what are the political effects of an economic collapse?" The programs 
> you've listed *are* the political effects.

No I mean rising economic expectations. I won't argue there weren't 
rising political expectations but I'm not certain one can separate them 
in the manner you seem to suggest.
Also absent is any influence from overseas. The fear of the "Soviet 
Example" was very real.
I don't see any parallels today with the thirties with regards to this. 
A crisis seems more likely to bring about a repressive administration 
than a socialist revolution and again we know for a fact that it will 
hurt millions of people.
Wishing for a crisis seems misanthropic.
Ceteris paribus I'd rather see an approximation of the post WWII boom 
and the labor militancy that brought about than a 1930's style crisis.
I suspect we'll see neither and wind up with something new to contend with.

John Thornton