Sunday, February 8, 2009

The "FDR Failed" Myth


Charles McMillion explodes the popular myth making the rounds that FDR's economic interventions bore no positive outcome in the economy. McMillion observes:
Myth and ideology aside, the data show that from 1933 through 1936 the New Deal produced double-digit annual growth in GDP, production, after-tax income and private investment, with strong consumer spending and job growth exceeding their peaks in the 1929 bubble. The Great Depression ended by late 1936.


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