Skip to comments.FDR's policies prolonged Depression by 7 years, UCLA economists calculate (warning from 2004)
Posted on 08/04/2011 3:49:15 PM PDT by Lou Budvis
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
(Excerpt) Read more at newsroom.ucla.edu ...
Understand, some people just don't thrive without a crisis in the midst.
It's a contrived and promoted status.
She stole my heart with her intellect and writing savvy alone. : )
Those two economists will be landed on like heretics. FDR is the Messiah to Democrats and their apparatchiks in academia.
We learn from history that we learn nothing from history.
George Bernard Shaw
We can all second guess, but we all know the reason. FDR’s policies didn’t do squat. No one wanted them, he enforced them. (He’ll pad the supreme court). Then WWII happened, FDR was a hero. He was a failure, before the war happened. Then all this crap happened. He forced it all on us. We’ve been realizing all this since. We’ve been pretending the history of WWII, like slavery, nevern was a democrat endorsed issue, it never happened. FDR was the worst president ever. He gave us Obama.
FDR Treasury Secretary Henry Morgenthau admitted the New Deal had failed. We are spending more than we have ever spent before and it does not work, he declared in 1939. We have never made good on our promises...I say after eight years of this Administration we have just as much unemployment as when we started...And an enormous debt to boot!
Save & Read
It’s going to take 100 years to filter through Obama’s crap.
That story/study is 7 years old. An oldy, but a damn goody. I always love to pull that sucker out in online debates.
They also did one for Hoover, which goes right along with her book: http://newsroom.ucla.edu/portal/ucla/pandering-to-labor-caused-great-91447.aspx
(I don’t remember the above link/article being from 2009, I thought it came out around the same time the FDR study came out, but who knows.)
Damn right FDR was the worst President ever.
Failed economic policies; engaging in provocative behavior against Germany and Japan, yet failing to re-arm so the nation would be ready for war on 12/7/41; showing such weakness to the Axis that the Japanese felt secure enough that they could sail half way across the Pacific and blow up our Navy on our own soil; throwing innocent Japanese-Americans in jail without due process or good cause; giving Poland over to Soviet tyranny even though the war started in Europe to save Poland from German territory; etc.
In other words, it's a shoe-in.
they first reported this, off the top of my head, in early 2000’s.
there’s a citation concerning them in 2004:
amity schael’s book came out in 2007.
How about 12 yrs rather than 7.
Obama has done exactly the same thing: favored the sectors of the economy with heavy union involvement over everybody else. It’s surprising how independent FDR’s justice department was to challenge those policies in court; no hope yet on the horizon as Holder is a man of zero integrity.
There are a great many peeple who see FDR as a hero. The liberal/statist/progressive popaganda machine is alive and sell.
The economists of Chicago have known this since the days of Frank Knight (one of Milton Friedman’s mentors).
The Viennese have known it since the days of Menger and Boehm-Bawerk (two mentors of Ludwig von Mises).
These UCLA guys don’t seem to get out much.
your are welcome.
i agree about fdr.
i know people that still think he’s a hero and nothing i say will change their minds.
it’s the liberal mindset.
“We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”
Obama has been gumming it up in hopes of a prolapse.
History is rearing itself. We are learning about FDR and his policies. He’s not the ‘I saved the country’ president, but the I promoted socialism president. It only took 60+ years.
We will win, but it’s going to take years and years and years.
We need to have liberal camps. Round them all up and put them in a camp. Call it the FDR model.
FDR, Hoover, and Wilson are the reason we’re still dealing with garbage economies like this one.
“As we’ve seen in the past several years, salaries and prices fall when unemployment is high. By artificially inflating both, the New Deal policies short-circuited the market’s self-correcting forces.”
No self-correcting except in the housing market.