Sharon's Reviews > Since Yesterday: The 1930's in America, September 3, 1929 to September 3, 1939

Since Yesterday by Frederick L. Allen
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Feb 07, 12

Read from January 07 to February 04, 2012

History doesn't repeat, but it does rhyme. The parallels between the Great Depression and today's financial crisis have already been well-documented by Paul Krugman and other "demand-side" economists, but "Since Yesterday" is a contemporary account, told from the perspective of only a few years into the 1940s. All the same characters are here: the supply-siders who want to cut taxes on corporations and so-called job-creators; the same blame-the-victim mentality that makes the implausible claim that the borrowers, not the banksters, cause the financial collapse; the same calls for slashing government spending at a time when the country needs government spending the most; banks and "investors" that receive generous infusions of cash and then sit on it instead of letting it circulate; and on, and on. Change a few dates and names, and it reads like any news story from the last 5 years.
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