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The case has been made, many times, by many economists of a variety of political leanings. Don't forget that the longest and deepest depression in US history wa
by Prrometheus 18y ago
The case has been made, many times, by many economists of a variety of political leanings. Don't forget that the longest and deepest depression in US history was accompanied by the largest expansion of government power in US history, which was ineffective.
FDR greeted a collapse in the money supply with measures designed to keep the price of labor and food high. Unsurprisingly, shortages in jobs and food lasted a long time.
In my experience, most people that think FDR "saved us" from the Great Depression got a history education from government schools and never studied Economics.
The "do-nothing" Hoover administration was also very activist, to boot.