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To: RKV

FDR made a bad business cycle worse (along with the failure of the Fed). Making labor more expensive through taxation (like social security taxes) and through regulation made the Depression worse, not better.

Probably true, but what would have have done to get us out of the depression? Just curious not being a jerk.


118 posted on 05/26/2007 7:32:32 AM PDT by napscoordinator (.)
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To: napscoordinator

The Fed failed to inflate the money supply when the market crashed is the short version and my opinion. Milton Friedman and Anna Schwartz, whose very influential work “A Monetary History of the United States, 1867–1960” advanced this thesis. Making labor more expensive through taxation (social security tax) and regulation (minimum wage laws) is going to make for unemployment worse, too. All in all, and based his policy actions that ran directly contrary to his rhetoric, FDR was likely the most cynical politician in American history.


119 posted on 05/26/2007 7:59:13 AM PDT by RKV (He who has the guns makes the rules)
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