Read through the Wikipedia article on the Great Depression yesterday night. In short, we’re not really sure what caused it and we’re somewhat unclear about what stopped it, though expansion of monetary supply and then WW2 seemed to have done the job.
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I think they were useful to the extent they opposed communism or unnecessary interventions but that whole approach breaks down in times of crisis like pandemics war where you do need to intervene for the time being. They are ideologues at the end of the day.
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