Presidential Royal Rumble

"The New Deal crippled what little was left of the economy..."

That is false. According to http://en.wikipedia.org/wiki/New_Deal#Recovery_2, the economy grew an average of 7.7% each year following the adoption of the New Deal.

Now, I'll admit, The Jungle made me more hungry than outraged, but while Teddy freaked out and passed a handful of regulations as a result, the actual book was heavily fictionalized as, you know, fiction books usually are.

Could you clarify what was was and was not fictional in the Jungle?

SeaCalMaster:
"The New Deal crippled what little was left of the economy..."

That is false. According to http://en.wikipedia.org/wiki/New_Deal#Recovery_2, the economy grew an average of 7.7% each year following the adoption of the New Deal.

Yeah. The effects of the New Deal, how much it helped/harmed the US economy and the longer lasting effects are a source of massive dispute among economic historians, and that glib quip grossly misrepresents the discussions surrounding it. Depending on how you phrase the question, either about half or about a quarter of economic historians believe the New Deal harmed the economy.

 

Reply to Thread

Log in or Register to Comment
Have an account? Login below:
With Facebook:Login With Facebook
or
Username:  
Password:  
  
Not registered? To sign up for an account with The Escapist:
Register With Facebook
Register With Facebook
or
Register for a free account here