New Deal or Crooked Path? How F. Roosevelt's Economic Policy Prolonged the Great Depression
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New Deal or Crooked Path? How F. Roosevelt's Economic Policy Prolonged the Great Depression
9.99 €
Historian Burton Folsom debunks the idyllic legend of Franklin Roosevelt's New Deal, an economic policy that supposedly saved capitalism in the face of an unprecedented global economic crisis.
According to Folsom, the New Deal programs slowed down economic recovery, featuring chaotic planning and wasteful government spending against the backdrop of unprecedented tax increases. The author analyzes the implementation of several of the most large-scale and harmful programs: the activities of the National Industrial Recovery Administration, the Agricultural Adjustment Administration, the Reconstruction Finance Corporation, and two public works administrations.
The author pays special attention to the use of federal funding in the political struggle in the presidential and midterm (senators and congressmen) elections of 1934-1938, in the struggle with regional political and business elites. Federal funds were directed not to those states where the economic situation required it, but where they allowed them to buy votes.
According to Folsom, the New Deal programs slowed down economic recovery, featuring chaotic planning and wasteful government spending against the backdrop of unprecedented tax increases. The author analyzes the implementation of several of the most large-scale and harmful programs: the activities of the National Industrial Recovery Administration, the Agricultural Adjustment Administration, the Reconstruction Finance Corporation, and two public works administrations.
The author pays special attention to the use of federal funding in the political struggle in the presidential and midterm (senators and congressmen) elections of 1934-1938, in the struggle with regional political and business elites. Federal funds were directed not to those states where the economic situation required it, but where they allowed them to buy votes.
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