The truth about the New Deal

What most free market economists have been saying is now being said by
others:

“….Roosevelt’s initiatives did not, in the end, lift the country out of
the Great Depression. At no time in the first eight years of the New Deal
did unemployment drop below 15 percent. At no time did economic activity
reach levels comparable to those of a decade earlier; and, while there
were periods when the economy seemed to be recovering, none of them lasted
very long. And so this bold, active, and creative moment in our history
proved to be a failure at its central task. Understanding what went wrong
could help us avoid making the same mistakes today….”
Alan Brinkley, “No Deal,” The New Republic (December 31, 2008), p. 12.

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