This is not a story from The Onion. Instead, the Associated Press has a report of a school in Rhode Island that banned the hat of little eight-year old David Morales because he decorated it with a couple of toy soldiers that…gasp…had tiny little plastic weapons. I’m not even sure what to say about this, other than that the school bureaucrats probably applied for jobs with TSA and were demonstrating that they were qualified. On the other hand, if the school’s history classes teach that we beat the Nazis by prevailing in a game of rock-paper-scissors, then perhaps the school truly does have a “zero tolerance” policy about weapons. Here’s the relevant section of the report:
Christan Morales said her son just wanted to honor American troops when he wore a hat to school decorated with an American flag and small plastic Army figures. But the school banned the hat because it ran afoul of the district’s zero-tolerance weapons policy. Why? The toy soldiers were carrying tiny guns. “His teacher called and said it wasn’t appropriate,” Morales said. Morales’ 8-year-old son, David, had been assigned to make a hat for the day when his second-grade class would meet their pen pals from another school. She and her son came up with an idea to add patriotic decorations to a camouflage hat. Earlier this week, after the hat was banned, the principal at the Tiogue School in Coventry told the family that the hat would be fine if David replaced the Army men holding weapons with ones that didn’t have any, according to Superintendent Kenneth R. Di Pietro.
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Posted in Economics, Government intervention, Great Depression, Hoover, Obama, Roosevelt, tagged Economics, Government intervention, Great Depression, Hoover, Obama, Roosevelt on June 18, 2010|
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Citing a scholarly book by Richard Vedder and Lowell Gallaway, Tom Sowell concisely explains that government intervention caused the Great Depression.
Right here and right now there is a widespread belief that the unregulated market is what got us into our present economic predicament, and that the government must “do something” to get the economy moving again. FDR’s intervention in the 1930s has often been cited by those who think this way. …Although the big stock market crash occurred in October 1929, unemployment never reached double digits in any of the next 12 months after that crash. Unemployment peaked at 9 percent, two months after the stock market crashed– and then began drifting generally downward over the next six months, falling to 6.3 percent by June 1930. This was what happened in the market, before the federal government decided to “do something.” What the government decided to do in June 1930– against the advice of literally a thousand economists, who took out newspaper ads warning against it– was impose higher tariffs, in order to save American jobs by reducing imported goods. This was the first massive federal intervention to rescue the economy, under President Herbert Hoover, who took pride in being the first President of the United States to intervene to try to get the economy out of an economic downturn. Within six months after this government intervention, unemployment shot up into double digits– and stayed in double digits in every month throughout the entire remainder of the decade of the 1930s, as the Roosevelt administration expanded federal intervention far beyond what Hoover had started. If more government regulation of business is the magic answer that so many seem to think it is, the whole history of the 1930s would have been different.
I particularly like that Sowell compares the 1929 and 1987 stock market crashes. The market actually fell more in 1987, but Reagan wisely did nothing and the economy continued growing.
The very fact that we still remember the stock market crash of 1929 is remarkable, since there was a similar stock market crash in 1987 that most people have long since forgotten. What was the difference between these two stock market crashes? The 1929 stock market crash was followed by the most catastrophic depression in American history, with as many as one-fourth of all American workers being unemployed. The 1987 stock market crash was followed by two decades of economic growth with low unemployment. But that was only one difference. The other big difference was that the Reagan administration did not intervene in the economy after the 1987 stock market crash– despite many outcries in the media that the government should “do something.”
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