What was the New Deal of the 1930s? There are so many myths surrounding it, and to a large extent the Democratic Party’s credibility today is based on the assumption they were fundamental social innovators, progressive if you will, during the New Deal.
Mais
Hoover’s interventionist policies set the stage for FDR’s “New Deal” that helped turn a recession into a “Great Depression”.
>Libertarians argued years later that Hoover’s economics were statist, & that he belonged in the continuum of government & business collaboration that began around the turn of the century. I must agree with them.<
>Roosevelt the Presidential candidate blasted the Republican incumbent for spending and taxing too much, increasing national debt, raising tariffs & blocking trade, as well as placing millions on the government dole. Roosevelt attacked Hoover for “reckless and extravagant” spending, of thinking “that we ought to center control of everything in Washington as rapidly as possible.” Roosevelt’s running mate, John Nance Garner, accused the Republicans of “leading the country down the path of socialism”. Hoover believed the government should spend more money on dams & public works during business downturns, a kind of early Keynesism.<
>Years later, one of Roosevelt’s closest advisers, Rexford Tugwell, admitted that “practically the whole New Deal was extrapolated from programs that Hoover started.”<
The New Deal Illusion
~GABRIEL KOLKO~
Mais