The New Deal and Recovery, Part 7: FDR and Gold
The causes of the gold inflow that fueled the post-1933 recovery, and especially the part played by FDR’s decision to devalue the dollar.
The New Deal and Recovery, Part 6: The National Bank Holiday
During the opening days of March, 1933, the U.S. economy resembled a stricken body slowly bleeding out, its organs failing one by one. The Federal Reserve System was hemorrhaging gold, and entire state banking systems were shutting down one after another. I
The New Deal and Recovery, Part 5: The Banking Crisis
To understand how the world’s largest economy ended up shutting-down its entire banking system, one must first be aware of a long-standing defect of that system and of how it led, first to the proliferation of small and under-diversified banks, and then to as many bank failures.
The New Deal and Recovery, Part 4: FDR’s Fed
If ever an administration had control over Fed policy, and monetary policy more generally, FDR’s was it. It follows that, if monetary policy did less than it should have to end the Great Depression, the Roosevelt administration must bear a good share of the blame.
The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth
Although almost everyone assumes that fiscal stimulus played a big part in bringing the Great Depression to an end, the truth is that its contribution was insignificant.
NBA Sports Athletes Fail To Get Their Facts Straight on Blacks and the Police
Is it too much to ask that sports celebrities, who parrot lines like “systemic” police brutality against Blacks, ask for facts first?
The New Deal and Recovery, Part 2: Inventing the New Deal
The New Deal wasn’t a grand scheme at all, but an assemblage of steps and programs, many of which were decided upon or concocted only after Roosevelt took office.
The New Deal and Recovery
I hope to introduce my readers to evidence casting doubt on the view that New Deal programs ended, or mostly ended, the Great Depression.
The New Deal and Recovery, Part 1: The Record
When I say “the New Deal,” I mean the “series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939.”
