WAS THE NEW DEAL A BUST? Burton Folsom certainly thinks so. A professor of history at Hillsdale College in Michigan and senior historian at the Foundation for Economic Education, he claims Franklin D. Roosevelt's programs didn't help end the Great Depression. Worse, he insists income redistribution and regulation by the federal government -- the legacies of the New Deal -- are an albatross for the economy. It's an intriguing theory, especially coming as Barack Obama prepares his New New Deal. But Folsom is unconvincing; he is an invisible-hand ideologue, not an economist. He relies heavily on the fact -- acknowledged...