Samuelson and the Great Recession

Yes, we must thank The Washington Post for running Robert Samuelson. He can always be counted on to get almost everything wrong. He shows this talent yet again in his column on the financial crisis.

He gives us three lessons, with number 1 being the most important, that we could have another great worldwide Great Depression. Yes, this is true, but not because of some mysterious force descending on the world economy.

If we have another Great Depression it will be because governments and centra...