When it started becoming
fashionable to compare the current economic malaise to the Great
Depression, decades of scholarship flew out the window overnight.
In place of the policy nuances that have been debated over the
years by historians and economists, we were offered a simple-minded
morality play in which Herbert Hoover embraces unchecked laissez
faire, producing and aggravating an economic crisis, until Franklin
Roosevelt rides to the rescue. This, writes Daniel Rothschild, is a
dubious story line.
Reason Magazine
New at Reason: Daniel Rothschild on Another New Deal Apologia
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