Suddenly, everything old is New Deal again. Reagan is out; FDR is in. Still, how much guidance does the Roosevelt era really offer for today’s world?
The answer is, a lot. But Barack Obama should learn from FDR’s failures as well as from his achievements: The truth is that the New Deal wasn’t as successful in the short run as it was in the long run. And the reason for FDR’s limited short-run success, which almost undid his whole program, was the fact that his economic policies were too cautious.
This entry was posted
on Sunday, January 18th, 2009 at 10:40 am and is filed under USH: The Crash, Depression & New Deal.
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