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This edition: The Great American Purge





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Episode Details

First aired: April 3, 2019.

This week's episode of Economic Update is a little different from the usual program. Professor Wolff begins by explaining the economics behind the great U.S. anti-leftist purge ("McCarthyism") after 1945. It then shows the economic impacts of that purge over the last half century. In the second half, Prof. Wolff explains how that history produced a very different political response to the crash of 2008 compared to FDR's response in 1929.