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Politics : Formerly About Advanced Micro Devices
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To: Neocon who wrote (190592)6/17/2004 5:56:22 PM
From: TimF  Read Replies (1) of 1574275
 
My take is that most of the New Deal was economically unsound

I agree.

but that FDR probably saved us from a worse political crisis by being willing to experiment.

Possibly. I certainly wouldn't say probably. Other deep economic downturns didn't stay down as long. I think that Hoover's mistakes combined with FDRs had a lot to do with the length of the depression and the longer depression itself increased the possibility of political crisis.

I also think that the state of economic knowledge was shakier than today

I agree. Hoover's policies where also bad and even decades later Nixon imposed wage and price controls. Hopefully we have put such things behind us for the foreseeable future.

Tim
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