What I find so interesting is, Herbert Hoover in August 1928 said no country in the world was closer to abolishing poverty than the United States. And then, of course, we had the Great Depression.
Sentiment: POSITIVE
The most striking development of the great depression of 1929 is a profound skepticism of the future of contemporary society among large sections of the American people.
What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.
Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential ingredient in anyone's economic and historical education.
It took capitalism half a century to come back from the Great Depression.
There is a deep sadness to American poverty, greater than the sadness of any other kind. It's because America has such an ideology of success.
The 1930s had been a time of tremendous economic distress. And the unemployment rate was enormously high by any historic standard.
For too long, we've attached some mythic notion to government solutions, and yet, 40 years after we began the War on Poverty, poverty still abounds.
The world at large is less inequitable today than at any time in history. Number of people in abject poverty, as a percentage, is at all-time low.
The levels of poverty in 1933's rural America were unimaginable to us now. The 1933 Farm Bill, which introduced unprecedented government control over agriculture, was a reaction to the specific problems facing producers at that time.
Poverty existed before January 20, 2008, OK? Before President Obama took office.
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