Economic Update: The Great American Purge

The program begins by explaining the economics behind the great US anti-leftist purge (“McCarthyism”) after 1945. It then shows the economic impacts of that purge over the last half century. Finally, it explains how that history produced a very different political response to the crash of 2008 compared to FDR’s response to 1929. *Note: This is a rebroadcast. A new episode of EU will not be released this week in observance of Memorial Day.