Skip to comments.The New Terrapin Gazette Number 216
Posted on 06/20/2011 10:07:21 PM PDT by 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.
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