Myths and Landmarks in US Economic History


The Institute for New Economic Thinking has the podcast (and transcript) Myths and Landmarks in US Economic History

Economic historian and INET board member Richard Vague, talks about his latest book, The Illustrated Business History of the United States, which reveals a number of misconceptions and myths about the development of the US economy


An early comment by Rob Johnson astonished me in how much he had missed the issue.
It’s not a question of whether or not the financial system should have been bailed out in 2008. The issue is what should have been bailed out. People mix up financial institutions with the executives that ran them (into the ground). We could have bailed out the institutions and jailed the executives.

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