Ah, but how did it end? With a huge Keynesian stimulus called the Second World War? Or something else. Jay Nordlinger and I, along with our guest, EconTalk’s Russ Roberts, answer that question this week on Need to Know. We also touch on whether the financial crisis of 2008 proves that capitalism is unstable (or is it crony capitalism that’s unstable?), whether we should break up the big banks, and whether bargaining over the debt ceiling will cause the U.S. to default on its debts.
by Mona Charen