Alexander Field: Crowding Out? - The Role of Public Investment During a Depression (2/4)

The transcript explores the political economy of public and private investments, particularly during the New Deal era. It highlights the debate on whether public investment crowds out private investment, noting that Roosevelt's policies were beneficial despite criticism. The discussion extends to productivity growth, comparing the ICT revolution to the 1930s, and considers future technological prospects. The speaker suggests that while broadband and technology offer optimism, they may not replicate the productivity gains of the Great Depression.

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