FDR came in and began throwing programs at Congress like a desperate cook throwing spaghetti at the wall to see if anything stuck
I heard an economist on the radio the other day, saying FDRs constant changing of policies and programs was a major cause for the depression lasting as long as it did. This came as a surprise to me, as I had always heard (and believed) that FDR was directly responsible for getting us *out* of the great depression. I've been reading more about it, and am now convinced FDR did considerably more harm than good. Here's an article which addresses the New Deal's effect on wages and prices:
FDR Responsible for Prolonging - Not Ending - Great Depression, Say UCLA Researchers
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.” You can read the entire article here:
http://www.freerepublic.com/focus/fr/1364707/posts
