All Posts Tagged With: "recovery"

FDR’s Lucky Timing

It’s not clear how any of FDR’s 1933 policies could have accounted for a 17 percent increase in GDP, even if they promoted expansion, because they wouldn’t have had time to ripple through the economy. It seems more likely that FDR had the good fortune to come into office near the bottom of the Depression, and enough adjustments in wages, prices, and other factors had occurred that the economy was ready to recover.

10Jun2009 | Jim Powell | 5 comments | Continued

The NRA: How Price-Fixing Perpetuated the Great Depression

The National Industrial Recovery Act (NRA) dramatically altered America’s traditional free-market system. Under the NRA, a majority of firms in any industry had government approval backed by force to determine how much a factory could expand, what wages had to be paid, the number of hours to be worked, and the prices of products. Whether or not a businessman helped write the code for his industry, he was bound by the terms and subject to a fine or jail term if he violated them.

1Apr2009 | Burton W. Folsom Jr. | 17 comments | Continued

Foreign Aid Fiasco

Mr. Wolfe is a member of the staff of the Foundation for Economic Education.
$115 billion worth of foreign aid has produced neither friends nor a genuine European prosperity—while it has placed American weapons in hands which may someday aim them at us.
Last March 19, President Eisenhower formally asked Congress for $4,860,000,000 for the [...]

21Nov2009 | Charles Hull Wolfe | 0 comments | Continued