How long will it take for people to understand what you and others like you have been teaching for the longest time?
The New Deal failed in its most basic task: giving us an economy that supplied work. FDR's programs and rules weighed so heavily on businesses that they failed to hire. Evidence that (less) regulation and taxation, not make-work jobs, are what matter.https://ottawacitizen.com/opinion/cohen-covid-19-yes-canada-can-learn-from-roosevelts-approach/ …
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awww; we can't know the moment, we just have to offer up the evidence and hope. a real problem is high school textbooks; too biased.
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Irwin’s Clashing Over Commerce shreds the thesis that Smoot Hawley caused the Great Depression. Friedman’s Monetary History covers the banking system collapse, Shlae’s Forgotten Man describes the series of policy mistakes that were replicated by the Obama Administration
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We see it today in incentives not to work exceed wages.
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Cohen’s other mistake is treating Hoover as a polar opposite of FDR (insinuating the old tripe he was a do-nothing laissez-faire leader when he was nothing but, as your work and that of Rothbard and many others has proven).
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The author has not read your book. Or, taken a critical look at the US response to the Depression. But if the COVID crisis tells us anything, it is that raw, naked, free enterprise and its search for profit will be what saves us. Government can’t. Free markets already are.
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Is Canada trying to screw itself? Of so, following in FDR's footsteps is a great tactic.
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Well they elected a Trudeau twice!
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And, the "clever" manipulation attempted through FDR's Silver Purchase Act of 1934 was an attempt raise money by manipulating the price of silver. It didn't raise the windfall predicted by FDR's brain trust. But, it did ruin the economies of China & Mexico.
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Many non-Keynesian economists argue the "New Deal" caused more damage than it did good.
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