Thomas Sowell and the Big Government Lie

Thomas Sowell is one of the best columnists writing today.  In his most recent column (read it here), he carefully and charitably dismantles the idea that government should intervene during economic crisis.  He looks back to the Great Depression and explains how the economy was starting to recover after the initial crisis, but then the New Deal government stepped in to “help out.”  From there followed years of horrific unemployment rates and a crippled economy.

Sowell contrasts this with the economic crisis of the mid-80s.  This crisis is less-discussed, because the Reagan government stayed out of it and the economy recovered relatively quickly.

Which pattern are we copying today?  I fear the former.  Read Sowell’s entire piece.  It’s great.