New Deal Anew
Tuesday, June 19, 2007
Amity Shlaes, author of The Forgotten Man: A New History of the Great Depression (HarperCollins, 2007), and Jonathan Alter, a senior editor and columnist for Newsweek magazine and the author of The Defining Moment: FDR's Hundred Days and the Triumph of Hope (Simon & Schuster, 2006), just out in paperback, debate the New Deal's legacy.
The Forgotten Man is available for purchase at Amazon.com.
The Defining Moment is available for purchase at Amazon.com.
Jonathan Alter's website
The Forgotten Man is available for purchase at Amazon.com.
The Defining Moment is available for purchase at Amazon.com.
Jonathan Alter's website
Comments [3]
Unemployment (% Labor Force)
Year Lebergott Darby[27]
1933 24.9 20.6
1934 21.7 16.0
1935 20.1 14.2
1936 16.9 9.9
1937 14.3 9.1
1938 19.0 12.5
1939 17.2 11.3
1940 14.6 9.5
1941 9.9 8.0
1942 4.7 4.7
1943 1.9 1.9
1944 1.2 1.2
1945 1.9 1.9
I would have to argue that the New Deal cut in the unemployment rate by a third from 1933 to 1940 the unemployment rate dropped from 25% to 15%. While Amity is correct that the war further lowered the unemployment, our nation was on the road to recovery through public works.
Ms. Shales seems to forget that most of governments actions, prior to Roosevelt, were taken at the behest of business, including tarifs. In a similar fashion, the desire for free trade is again driven by business, while most people desire something different. Government does not exist in a vacuum. It often takes it cue from the campaign check writers.
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