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Old 12-13-2016, 01:05 PM
SteveG1 is offline
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Join Date: Aug 2004
Location: Van Nuys CA
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Quote:
Originally Posted by elucidator View Post
"The business of America is business." - Calvin Coolidge
Hmmmmm ...

http://www.economist.com/news/books-...-less-led-more

Quote:
“WEANED on a pickle” was how the acid-tongued Alice Roosevelt Longworth described Calvin Coolidge, America’s president from 1923 to 1929. Popular historians have been no kinder. Many blame his laissez-faire approach for prompting the Wall Street crash of 1929.

Implicit in this view is the presumption that only interventionist central government can help America recover from economic shock. Mr Coolidge’s hallmark was distrust of government. He saw it as an entity that uses “despotic exactions” (taxes) that sap individual initiative and prosperity across the board.
...
He also objected to public ownership of the Post Office, tax exemptions for municipal debt and farm subsidies, all of which have produced costs that still hang heavily over America.
...
Even in the face of natural disasters, he held back, fearing that intervention would undermine individual initiative and corrupt the national government.