WWII and recovery – Krugman

In the comments, Tom addresses what George Brett and I were wondering about, namely whether economists see FDR’s New Deal spending as what pulled us out of the Great Depression, or if they say WWII was the answer:

Paul Krugman is one high-profile economist (and there are plenty more, but many of them aren’t as accessible, content-wise) who discusses how the economic policies Roosevelt enacted did a good deal to get us on our way out of the Depression.  He adds the important caveat that in 1937, when FDR et al tried to balance the budget (under pressure, I might add, from those on the right concerned about deficits and debt), we were thrust back into the same conundrum we’d been in.  


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