Krugman Question

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    Why does Krugman always point to the 50s as an example that Keynesianism works? What’s the rebuttal?


    In addition to what Dr. Herbener said in response to your question over in the Austrian Economics forum I would add that a lot of the prosperity of the 1950s was the result of extensive deregulation undertaken in the aftermath of WW II. On this see Robert Higgs’ article “Wartime Prosperity? A Reassessment of the US Economy in the 1940s” (available online at and the article titled “The Great Depression of 1946” by Vedder and Galloway (available on

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