Friday, March 05, 2010

Chart of the day

This chart comes from David Friedman's column "A Tale of Two Great Depressions" in which he contrasts the declining government spending -- and subsequent speedy recovery -- in the wake of the 1921 recession with the increased government spending and continued stagnation following the onset of the 1929 depression.

I've previously blogged about the government's response to the 1921 recession/depression here.

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