The American people.

I didn't want to get in the middle of Tom and ER's "discussion". They're plenty of papers and studies on the subject. Looking objectively at both sides, the whole of the matter, would be a better way to go. No need to go into "you're lying, no you're lying" mode.

The thing Economists do best it look at the past and explain what happened. At least they try.

Government spending, fiscal and monetary policy, and tax structure can only act as a catalyst. Recovery is dependent on the psyche of the people to turn things around. Recovery is a change in behavior.

We suffer economic 'contractions', people quit spending, investors move their assets into less risky investments. Businesses change their short term plans and have no solid outlook on the future. It's a matter of fear.

I think instead of relying on economists we should talk to the people who lived and who climbed out of it. Business owners and entrepreneurs . We should study the behavior of those that were part of the 75% that were working. Unfortunately most people who were adults in the 30’s and 40’s are dead. You’d have to talk to the children of the era. But even those anecdotes would be distant memories.

With the divide shown here, it’s pretty clear economists and historians haven’t done their job.