Youtube hearted comments of The french are harlequins (@thefrenchareharlequins2743).
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And it probably ended up extending the depression. There was a downturn in the
economy in 1921 that was initially more severe than the downturn in the twelve months immediately following the stock market crash of October 1929. Unemployment in the first year of President Warren G. Harding’s administration was 11.7 percent. Yet Harding did nothing, except reduce government spending as tax revenues declined. The following year unemployment fell to 6.7 percent, and the year after that to 2.4 percent.
Meanwhile after the stock market crash, the unemployment rate peaked at 9 percent two months after the crash, and then began a trend generally downward, falling to 6.3 percent in June 1930. Unemployment never reached 10 percent for any of the 12 months following the stock market crash of 1929. But, after a series of major and unprecedented government interventions, the unemployment rate soared over 20 percent for 35 consecutive months. These interventions began under President Herbert Hoover, featuring the Smoot-Hawley tariffs of 1930—the highest tariffs in well over a century—designed to reduce imports, so that more Americanmade products would be sold, thereby providing more employment for American workers. It was a plausible belief, as so many things done by politicians seem plausible. But a public statement, signed by a thousand economists at leading universities around the country, warned against these tariffs, saying that the Smoot-Hawley bill would not only fail to reduce unemployment but would be counterproductive.
None of this, however, dissuaded Congress from passing this legislation or dissuaded President Hoover from signing it into law in June 1930. Within five months, the unemployment rate reversed its decline and rose to double digits for the first time in the 1930s and it never fell below that level for any month during the entire
remainder of that decade, as one massive government intervention after another proved to be either futile or counterproductive.
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@dannyhalas9408 13:39 I think this part of the video explains why profits and losses reveal efficiency.
Medicare and medicaid are funded by the government, and the increase in healthcare costs correlate exactly around the same time these programmes were instituted, according to Consumer Price Index and Medical-care price index from 1935 to 2009. You can try to sell a product as expensive as you wish, at the end of the day, if people are your primary market, you need to have a price which they can afford. You don't need to have as low as a price as you can afford when you are primarily selling your products to a state.
And as for railway... In 2016, there were 1.718 billion journeys on the National Rail network, making Britain's the 5th most used in the world. Since privatisation, the number of national rail journeys had increased by 117% by 2014 and according to a 2013 Eurobarometer poll, satisfaction with rail of UK respondents was the second-highest in the EU, behind Finland. The rate of improvement increased compared to that experienced in the last years of BR, according to research by Imperial College London. The researcher said their findings showed that 150 people had probably lived who might have been expected to die in crashes had pre-privatisation trends continued. I'll give you there has been confusion about responsibilities that has led to several safety-critical incidents and incurred high costs for companies and passengers, but overall, were getting better bang for our buck.
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