FDR’s policies prolonged Depression by 7 years, UCLA economists calculate
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
““Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
That’s exactly what my parents believed and discussed all durring the depression.
Having lived through it and having politically active and conservative parentss my education was 180 out of phase with the thinking of the times.
They worked hard durring it and saved enough to start the business without borrowing money and build a 2,400 sq. ft. home in a high end neighborhood in 1936.
But, how can that be? I just heard 0bama on the radio the other day saying that he couldn't believe people were criticising the New Deal and saying it made things worse. He said he thought this matter was settled a long time ago. (And the New Deal was fantastic!!!111eleventyone!!!!1) \
Are you saying Dear Leader could be in error?