Learning from the Great Depression

Black Local and National News

by Staff 29 Views

by Chris Wright Like today, austerity during the Great Depression was unnecessary. From sales tax, states had become wealthy, but even those with budget surpluses refused to provide relief for the unemployed. According to Mark Twain (supposedly), history doesn’t repeat itself, but it frequently rhymes. He was right. Donald Trump, for example, rhymes with Mussolini. The decline of organized labor in recent decades rhymes with its decline in the 1920s. And the coming depression will rhyme, in many respects, with the Great Depression. For decades, in fact, it has been clear that the poli...