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The Politically Incorrect Guide to the Great Depression and the New Deal (The Politically Incorrect Guides) Paperback – March 31, 2009
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Read this book and understand why massively increasing government is not change we can believe in. --Congressman Ron Paul --This text refers to an out of print or unavailable edition of this title.
From the Inside Flap
Everything you know about the Great Depression and the New Deal is wrong
We all learned in school that the 1920s were a time of unregulated capitalism that led to the stock market Crash of 1929 and the Great Depression of the 1930s. Herbert Hoover was a laissez-faire ideologue who did nothing to alleviate the crisis--even as citizens starved and were forced to live in "Hoovervilles." And the interventionist policies and massive spending programs of Franklin D. Roosevelt's New Deal gradually lifted us out of the Depression, until World War II brought it to a definitive end.The only trouble with this official narrative--taught in most history textbooks, and proclaimed as gospel by the media--is that every element of it is false. Worse, this unsubstantiated myth is now being used to justify a "new New Deal" in response to today's economic crisis that could lead to a Greater Depression even deeper and longer than the first. But in The Politically Incorrect Guide to the Great Depression and the New Deal, economist Robert Murphy fact-checks the myths, shows why they're wrong, and delves deep into history to set the record straight. His "politically incorrect" conclusion? It was government, not free markets, that caused the Great Depression--and the New Deal only made it worse. The real "lessons of the Great Depression" are not what you've been taught.
* The Crash of `29 was caused not by capitalism, but by the boom brought on by the newly created Federal Reserve's easy money policy (sound familiar?)
* Hoover made the Depression "Great" precisely by abandoning the laissez-faire approach that previous presidents had followed and that kept depressions short
* The bank runs of the 1930s were caused by government intervention in the banking system
* Government efforts to prop up wages and prices led to a full decade of double-digit unemployment
* FDR's arbitrary policies toward businessmen resulted in net investment of less than zero for much of the Depression
Might Barack Obama be the new FDR? You'll know, after reading The Politically Incorrect Guide to the Great Depression and the New Deal that if he is, that's nothing to celebrate.
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The wild west, the robber baron age, the great depression-recession, the civil war, ext, are all areas of knowledge that would be very beneficial for all Americans to expand on passed their compulsory understandings and moral Bias.
One of the things this book does well, is boiling the data down to undeniable facts that prove that the answer to the negative effects of a government manipulated market, is not more government manipulation, but the voluntary forces of liquidation and reinvestment of capital towards economically viable and necessary areas. Although it may sting at first, the problem is mitigated and solved much quicker and without the further loss of our rights to a government happy to exploit the economically literate masses for monetary gain and more control of the choices in our lives.
One last note: For those of you that like to debate, Robert Murphy has done you the favor of tackling multiple of the most popular views on this issue and crushing them.
Most recent customer reviews
I find it the author's enthusiasm for liquidating a bit excessive.Read more