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Article: The National Socialism of Obamanomics
- Article from:
- The American Spectator
- Article date:
- May 1, 2009
- Author:
CopyrightCopyright American Spectator May 2009. Provided by ProQuest LLC. (Hide copyright information)
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It's been tried before and found ruinous.
IT IS COMMONPLACE TODAY to believe we should referto the benign innovations of John Maynard Keynes during the Great Depression in order to understand what is driving President Obama's team of economic strategists. But a look back to that time leads one to conclude the Depressionera economist who appears most relevant to what is going on bears the improbable name of Hjalmar Horace Greeley Schacht.
From his post as head of the Reichsbank, in a career that ran nearly 20 years, Schacht was in effective control of the shambolic German economy for successive Weimar Republic governments and the pre-World War II regime of Adolf Hitler. During that time he ...