Warren Harding and classical economic theory

It’s not that I care one way or the other about which American president was the worst, although Joe Biden really does test the waters, not that the American media and its academic accomplices will ever mention it, but this is about Warren Harding who was and is my favourite since he took the US from recession into the best period of growth and prosperity in its history. This is from an article titled, How Liberals Unfairly Maligned Warren G. Harding. And why it matters even now is because the left who still controls everyone’s access to information still thinks the FDR approach works when it does not, but the Harding approach does and showed its genius in real life.

His program of laissez faire conservatism revived the American economy from the “forgotten depression,” leading to the most prosperous decade in US history, an era with average annual growth rates of 7 percent. He slashed taxes, regulations, and government spending, and created the Budget Bureau, which gave the federal government a comprehensive budget for the first time. The country ran a budget surplus every year and one-third of the national debt was paid off. Statistics also reveal that every class of citizen benefited throughout the “Roaring Twenties.”

Where will you find out about any of these policies in any textbook written this side of 1920. Well there is this: Classical Economic Theory and the Modern Economy.

1 thought on “Warren Harding and classical economic theory

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.