"Some economists argue that although the New Deal did not end the depression, it helped to prevent the economy from decaying further by increasing the regulatory functions of the federal government in ways that helped stabilize previous troubled areas of the economy: the stock market, the banking system, and others. Popular historians, like Thomas Woods in The Politically Incorrect Guide to American History and Jim Powell in FDR's Folly, argue it worsened the depression or delayed recovery. All analysts agree the New Deal produced a new political coalition that sustained the Democratic Party as the majority party in national politics for more than a generation after its own end.
During Roosevelt's 12 years in office, there was a dramatic increase in the power of the federal government as a whole. Roosevelt also established the presidency as the prominent center of authority within the federal government. By creating a large array of agencies protecting various groups of citizens—workers, farmers, and others—who suffered from the crisis, enabling them to challenge the powers of the corporations, the Roosevelt Administration generated a set of political ideas—known as New Deal liberalism—that remained a source of inspiration and controversy for decades and that helped shape the next great experiment in liberal reform, the Great Society of the 1960s...(courtesy of wikipedia)"
Sound familiar? This is what the current administration is aiming at. But the fact remains that the New Deal did not work and yet, maybe it did. The New Deal was a actually a veiled attempt by the liberals in America, at the time, to further their own agenda and line their pockets. They truly didn't care that America was in such dire straights because they looked at it as a time to shape the political landscape to meet their own designs. Much like today's "stimulus" package is being used to send pork to the lobby groups for the left.
In the meantime, you rarely hear anything about the egregious-ness of the new package from the media because they are all smitten with Obama. You think Bush and the Republicans could have gotten away with such a pork-ridden bill and not heard media outcry? I think not.
Subscribe to:
Post Comments (Atom)
So when did my son get so interested in and well versed in economic history and opinion? I had no idea that all of that was going on in your mind! You keep too silent, my son! (You are reminding me of your father! ;) )
ReplyDeleteThanks for opening the door just a crack to that on which you ponder.
Love, MOM
I wasn't too interested until the economy fell apart. Honestly, I wouldn't consider myself much of an expert, but just a concerned citizen. In my opinion the only way we truly get out of this is by people taking responsibility and getting out of their debt, not relying on the government to do it for them.
ReplyDelete