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Forum Post: How FDR Made the Depression Worse

Posted 2 years ago on Nov. 30, 2011, 9:27 a.m. EST by ProAntiState (43)
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How FDR Made the Depression Worse Robert Higgs

Franklin Roosevelt "did bring us out of the Depression," Newt Gingrich told a group of Republicans after the recent election, and that makes FDR "the greatest figure of the 20th century." As political rhetoric, the statement is likely to come from someone who does not support a market economy. The New Deal, after all, was the largest peacetime expansion of federal government power in this century. Moreover, Gingrich's view that FDR saved us from the Depression is indefensible; Roosevelt's policies prolonged and deepened it.




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[-] 2 points by AuditElmerFudd (259) 2 years ago

Gingrich will pander wherever possible to get votes. There is no possibility he'll be the Republican nominee.

[-] 2 points by guru401 (228) 2 years ago

There is lots of debate on this. But similar events are occurring now. Tons of fiscal and monetary stimulus, not allowing the system to cleanse itself, thus never fixing the problems that causes the crisis.

Same thing happened in Japan in the 1990s and continues to happen there now.

[-] 3 points by demcapitalist (977) 2 years ago

I really think that everything the fed and US fiscal policy has done for the past 25 years has been designed to cover up the fact that we've gutted our manufacturing and run out of our own oil. Not consciously, just a series of stomping out fires as they pop up. We've ended up using the good credit that was built up from decades of being a productive economy to turn China into a global super power. Not sure how we get out of this one.

[-] 1 points by shooz (26705) 2 years ago

If they were still alive today, my grandparents would heartily disagree.

Look around. As the republicans dismantled the New Deal, the Country has been plunged into an economic abyss.

[-] 0 points by MaryS (678) 2 years ago

Robert Higgs and Libertarian Crap. Peple were DYING of starvation back then and if FDR hadn't done the things he did, you might not be alive right now to spread such crap.