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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (463562)	3/13/2009 2:49:31 PM
From: TimF	3 Recommendations Read Replies (2) of 1578434

The fly in the ointment, though, is that there were countries who didn't implement any New Deal-like policies during that time. If anything, they did worse than the countries that did, and the US and New Zealand did the best of all. You provide no evidence for that assertion. Also "new deal-like policies" is rather vague, since there where so many new policies introduced by FDR, and often no real connection or coherence between them. Generally countries that dropped or seriously modified the gold standard earlier did better. I suppose dropping the gold standard could be considered a "new deal like policy". Other policies like deposit insurance are widely considered to have been beneficial, since it helped restore confidence in the banking system, but when you do as much as FDR did your likely to make some decisions that are correct. The problem is with things like the National Recovery Act, and the Agricultural Adjustment Act. Controlling prices, micromanaging retail sales from Washington, destroying food, and discouraging food production in a hungry country etc. Those where obviously foolish on a massive scale.

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