One of the topics Chris Edwards will be discussing with Glenn Beck this evening (5:00 EST, Fox) is the “Not-So-Great Depression” of 1920-21.
A couple of weeks ago I discussed the rising cost of the Pentagon’s F-35 Joint Strike Fighter program. Pentagon officials told the Senate Armed Services Committee that costs for the F-35 had jumped more than 50 percent since the program began in 2001. Now the Pentagon has informed Congress that the price tag is going to be even higher when new estimates are completed in the summer.
Policy wonks on the left are sometimes willing to concede that particular ideas they supported for micromanaging the economy haven’t worked out as planned. But they are rarely willing to admit that there are deeper problems with central planning in general.