Sunday, February 3, 2019

New Deal Review

In the fight between Hoover and FDR, who really won?
Roosevelt and his advisers were pushed by events they did not control and by political actors representing a broad range of ideas—communists, socialists, and labor radicals, as well as the followers of Huey Long, Father Charles Coughlin, and Francis Townsend. By the end of the 1930s, many in Washington believed that the New Deal, whatever it was, had failed. Although unemployment had fallen from its peak and some of the worst pain of the Depression had been mitigated, the economy had not recovered—and wouldn’t until World War II. Even the power and stability of the unions were truly secured only during the war. As the economist Alvin Hansen put it in 1940, when asked whether he believed the “basic principle” of the New Deal was economically sound: “I really do not know what the basic principle of the New Deal is.”
Today's Democrats seem to have a similar problem...

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