The New Terrapin Gazette Number 216

The New Terrapin Gazette ^ | June 20, 2011 | LBB

[Jeff Chandler]

Inflation Part Three: The New Deal, The Great Depression, And Today

Two major themes dominate the overview of how FDR attempted to cope with financial and economic disaster: first, he tried hard to increase governmental control of the economy by increasing regulation and regimentation, and second, he tried to inject money into the economy by hiring people.

The push for a centrally-controlled economy was a huge mistake. At first, it pitted the president against the supreme court, which tossed out some of his vital legislation. Furious, FDR threatened the court, which backed down (“the switch in time that saved nine”) when it should have stood its ground. Various social programs were highly-publicized attempts to win the support of the electorate, and they often did. As more and more people were added to the federal payroll — many indirectly, as they were hired to build dams and bridges — the administration took as much credit as it could for doing good.

[Jeff Chandler]

Some very good commentary. I have been subscribed to this newsletter for years and now it is being transferred to a blog. The author is a libertarian and was a very early debunker of the AGW hoax.