New Deal or Raw Deal?: How FDR's Economic Legacy Has Damaged America
In this shocking and groundbreaking new book, economic historian Burton W. Folsom exposes the idyllic legend of Franklin D. Roosevelt as a myth of epic proportions. With questionable m...more
FDR was smart though, however he spent like a drunken sailor. He would funnel money into sectors of large areas of large states to democratic cronies. These guys would dole out jobs in exchange for votes for themselves and FDR. He employed this tactic just enough in various states to ensure that each parti ...more
It was disconcerting to see how so much economic clout put in the hands of the government can be used for political manipulation. And once that genie was out of the bottle, we've never been able to put it back - no matter which party was in "power".
It would seem that, for the first time (actually beginnin ...more
It's important to remember that US unemployment reached 20% during the depression, and lasted until 1940, when war production began in earnest. Unemployment in other western countries was high during the ear ...more
The book itself is very technical from a policy standpoint and gets into details of the political and economic approach that Roosevelt and his team took while in office. It provides of view of what worked and what did not. It does provide factual examples of various initiatives they took and what were the consequences of them. For most part it viewed his e ...more
One of Roosevelt's big programs was later declared unconstitutional by the Supreme Court. Small business owners were jailed for not charging the high prices the government had arranged with giant corporations. And by the end, Roosevelt's own economic mastermind bluntly admitted that their plans had failed. There are many hard facts here to warn us against repeating these mistakes.
FDR had ...more
My fear is that I've rated so many books with five stars that me rating this with five stars will be overlooked. I truly hope that isn't the case. This book is one of the most insightful books I have ever read. We're taught all throug ...more
If that is the view you hold of Roosevelt, you owe yourself the challenge to read this critical assessment of Roosevelt's actions during the 1930's. The author makes a well supported argument that Roosevelt did not lead the country out of economic depression, bu ...more
"The Schechter brothers, who sold kosher chickens in Brooklyn, provided the court case that finally overturned the NRA in May 1935. The Schechters were doing some of the same things that landed Fred Perkins, Rose Markowitz, Sam Markowitz, and Jacob Maged in jail. To avoid their fate, the Schechters hired an excellent legal team, headed by attorney Joseph Heller, to keep them out of jail and try to have the NRA declared unconstitutional. When their case came before the Supreme ...more
Of course hindsight is 20/20, and they may very well have been doing their honest best to mitigate a disaster at the time, but it seems like most of FDR's policies and programs were really just vehicles to make him look good and grab more votes for the Democ ...more
This book is clearly politically charged, which makes truly objective reviews difficult. I've seen many reviews of political books which say almost nothing about the actual quality of the book, but rather use the book as a springboard to expound on the reviewer's own political opinions. I'll try to avoid that ...more
The discussion of the NRA, AAA, WPA, and other early New Dea ...more
There are a few gems in ...more
To my dear, sweet friend from the Provo days; one evening you and I got into a discussion ...more
Good, informative read regardless of what your political views are.
*Warning* is Conservatively/Classically liberally economic in view point.