Free Republic

For five years, classical liberal columnist and Council on Foreign Relations fellow Amity Shlaes delved deeply into the history of the Great Depression. She had been an op-ed editor at the Wall Street Journal, a WSJ columnist reuniting Germany, and a columnist for the Financial Times. She wrote two books, on German national identity and on America’s tax policy, critiqued from the right. Both sold well, but neither one foreshadowed the success she’d have with her research on the New Deal. The Forgotten Man: A New History of the Great Depression, published in 2007, has become one of the most...

Notations Does Stimulus Stimulate? Bruce Bartlett, 01.23.09, 12:01 AM EST The role of government in economic recovery. In a few weeks, Congress will likely enact the largest fiscal stimulus legislation in history. Surprisingly, the whole idea of such a stimulus is much more controversial among A-list economists than I would have expected, given the depth and breadth of the economic malaise. Although the debate is rather technical, it's important to try to understand it because much is at stake. Eighty years ago, the conventional view among economists was that government had nothing to do with business cycles--it neither caused them...