His point about the New Deal is nonsense. The only reason why the economy slipped in 1937 was because Congress forced FDR to start trimming back the New Deal programs. Until that point, GDP had increased steadily each year. Of course WWII was the ultimate factor that pulled the US out of the Depression. However, most economic historians agree that the US would have eventually gotten out of the Depression, just at a slower pace
He said almost as bad, and if you read his book or studied that era, you'd know that the US was hit with another wave that prolonged the depression even further in 1937-8.
This guy may know personalities but he does not know economics. The depression was as bad in 1938 as it was in 1933? The statistics certainly don't support this claim!
His point about the New Deal is nonsense. The only reason why the economy slipped in 1937 was because Congress forced FDR to start trimming back the New Deal programs. Until that point, GDP had increased steadily each year. Of course WWII was the ultimate factor that pulled the US out of the Depression. However, most economic historians agree that the US would have eventually gotten out of the Depression, just at a slower pace
afrothunder225x 1 year ago
He said almost as bad, and if you read his book or studied that era, you'd know that the US was hit with another wave that prolonged the depression even further in 1937-8.
Devin1996 2 years ago
This guy may know personalities but he does not know economics. The depression was as bad in 1938 as it was in 1933? The statistics certainly don't support this claim!
jpbalkenende 3 years ago