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New Deal

Time Magazine Cover: Obama as FDR

Obama will be featured on the cover of Time Magazine again (for what, the millionth time?), but this one may actually grab people’s attention and help their struggling sales. In the Nov. 24th issue they are featuring Obama as FDR. Obama should attempt to learn from FDR, but only to the extent of learning what not to do.

Postscript to Mark Thornton’s “The Economics of Housing Bubbles”

From an email by Professor Mark Thornton:

Some might find this useful. Misesian economics goes a long ways! -

Bush = Hoover 2.0, Part 2 - “Hoover’s Socialism”

But not because of the reasons you may believe
Part I - “The False Claims” - Can be found HERE

Labor Market Intervention

Within a month of the peak of the stock market in September 1929, President Hoover began a campaign of coordination between industry and government that is still seen today. He was under the belief that falling wages would exacerbate the coming recession and that they must be held steady in order to preserve purchasing power.

Is TARP Unconstitutional?

George Will makes the case against the constitutionality of TARP:

Since the New Deal era, few laws have been invalidated on the ground that they improperly delegated legislative powers. And Chief Justice John Marshall did say that the “precise boundary” of the power to “make” or the power to “execute” the law “is a subject of delicate and difficult inquiry.” Still, surely sometimes the judiciary must adjudicate such boundary disputes.

“Give a Man a Job”

See Video

Of all the New Deal era propaganda videos I’ve seen, this is by far the craziest. Jimmy Durante acts like a drunken buffoon and praises then President Franklin Delano Roosevelt. As one of the comments said, this is very timely.

Milton Friedman on FDR & 1930s Policies

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Milton Friedman discusses the Great Depression, FDR and the Social Security system.

Bush = Hoover 2.0, Part 3 - “Bush’s Parallels to Hoover”

But not because of the reasons you may believe

Part I - “The False Claims” can be found HERE.

Part II - “Hoover’s Socialism” can be found HERE.

Anti-New Deal Newsreel

By: Dr. David T. Beito

Here is a rare respite for the standard pro-New Deal newsreels that usually can be found on youtube. It is a sympathetic depiction of Fred Perkins, a battery manufacturer from York, Pennsylvania who chose to go to jail rather than obey the mandates of the National Recovery Administration.


GOP Leadership Bucks McCain

This week while McCain was out on the campaign trail giving press conferences with green shaded backgrounds promoting his initiatives on global warming, the actual fight over climate change and what to do about it was going on in the Senate (McCain did not care to show up). A bill sponsored by Joe Lieberman - McCain’s Independent friend - that McCain himself adamantly supported was trashed by the GOP Leadership with Senate Minority Leader Mitch McConnell calling it “A huge tax increase” and “the largest restructuring of the American economy since the New Deal” .

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