Post by RS Davis on Nov 15, 2003 7:37:37 GMT -5
[glow=red,2,300]Jim Powell Wrote:[/glow] This year marks the 70th anniversary of the launching of Franklin Delano Roosevelt's New Deal, so it's a good time to debate his policies, which have had an immense influence and which remain controversial.
On the Oct. 29 Wall Street Journal editorial page, Canadian newspaper publisher Conrad Black credits FDR for "swiftly reviving the American banking system" and helping to "banish the Depression." The biggest problem was to revive private sector unemployment – median joblessness was 17% throughout the New Deal era; but Mr. Black claims welfare recipients should be counted among the productively employed and therefore "unemployment was eliminated." He says, "I know of no serious criticism of the Roosevelt administration's" many policies. But as I report in FDR's Folly, dozens of economists, including two Nobel Prize winners, have evaluated the consequences of New Deal policies, and empirical research at leading universities raises tough questions
On the Oct. 29 Wall Street Journal editorial page, Canadian newspaper publisher Conrad Black credits FDR for "swiftly reviving the American banking system" and helping to "banish the Depression." The biggest problem was to revive private sector unemployment – median joblessness was 17% throughout the New Deal era; but Mr. Black claims welfare recipients should be counted among the productively employed and therefore "unemployment was eliminated." He says, "I know of no serious criticism of the Roosevelt administration's" many policies. But as I report in FDR's Folly, dozens of economists, including two Nobel Prize winners, have evaluated the consequences of New Deal policies, and empirical research at leading universities raises tough questions
- Rick
