October 2, 2008
An article by Scott Reynolds Nelson suggests that 1929 is the wrong model for the current economic crisis. The real model is 1873, the worst depression the Western economy ever endured. When commentators invoke 1929, I am dubious. According to most historians and economists, that depression had more to do with overlarge factory inventories, a […]
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October 2, 2008
Since my mother passed away I’ve been performing the sad but necessary task of going through her belongings. That includes several albums of photographs. Here’s a picture of my mother from 1921, when she was five years old. She’s outside the one-room schoolhouse in Makinen where she received her first eight years of education. I […]
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