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FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

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  • Anonymous

    Posted December 8, 2003

    When liberals got their way

    In attempting to codify human behavior from the banks of the Potomac, Roosevelt enforced price-fixing, established monopolies and legislated compulsory union membership. They transformed a cyclical economic recession into The Great Depression spanning a decade. Knowing it would take the U.S. Supreme Court at least eighteen months to overturn his decrees, FDR issued more Executive Orders than all President's after him combined. Learn about the dry cleaner who spent six months in jail. His economic crime? Charging 35 cents to starch a single shirt, rather than the Washington, D.C. decreed amount of 40 pennies. While in the hinterlands, livestock was being incinerated and foodstuffs plowed under, miles long food lines snaked down the cracked and urine stained sidewalks of many American big cites. Read how Henry Ford ignored the Blue Eagle logo of FDR's National Recovery Administration, defied Roosevelt, and sold his namesake cars for less than FDR's price fixers dictated. Mandated high retail prices kept common goods out of reach and the retaliatory foreign tariffs that came in the wake of the 1930 Hawley-Smoot tariff act swept the countryside clean of affordable imported commodities. While Union codified racism and newly enacted high minimum wages, forced millions of unskilled Blacks into unemployment, union workers, with Secretary of Labor Frances Perkins' encouragement, held numerous and massive strikes.

    8 out of 10 people found this review helpful.

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  • Anonymous

    Posted February 16, 2004

    1930's or the 21st Century?

    This is an excellent book to read. I would recommend it to anyone interested in history, economics, and especially domestic government policy. To be fair, the author explains that FDR did not create the Great Depression - it was a bad situation he inherited. However, through his unnecessary and Draconian take-over measures of the US economy, he made the situation much worse prolonging the Great Depression and in fact, creating policies that have continued to affect the US economy today. There are a lot of important lessons that our leaders should take away from this book, chief among them that free markets, not the government leads the way to market recovery. The author also covers many other unfortunate effects of FDR's policies such as illegality of discount pricing, the illegality of private gold ownership, and compulsory union membership, along with the subsequent effect of New Deal policies disempowering the economic growth of African-Americans. I recommend this book.

    4 out of 6 people found this review helpful.

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