UCLA economist Lee E. Ohanian, coauthor of a startling new paper arguing that the New Deal prolonged the Great Depression by about seven years, talked with reason.tv about the past six weeks of apparent economic crisis and the government's bewildering bailout response.

Ohanian's main concern, and one that is never sufficiently appreciated: "Periods of crisis often beget bad policies."

Approximately seven minutes. Interview conducted by Justin Keppler and shot by Alex Manning.