New Deal or Raw Deal?: How FDR's Economic Legacy Has Damaged America On Sale

Title : New Deal or Raw Deal?: How FDR's Economic Legacy Has Damaged America
Category: Political
Brand: Folsom, Burton W., Jr.
Item Page Download URL : Download in PDF File
Rating : 4.4
Buyer Review : 248

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A sharply critical new look at Franklin D. Roosevelt's presidency reveals government policies that hindered economic recovery from the Great Depression -- and are still hurting America today.

In this shocking and groundbreaking new book, economic historian Burton W. Folsom exposes the idyllic legend of Franklin D. Roosevelt as a myth of epic proportions. With questionable moral character and a vendetta against the business elite, Roosevelt created New Deal programs marked by inconsistent planning, wasteful spending, and opportunity for political gain -- ultimately elevating public opinion of his administration but falling flat in achieving the economic revitalization that America so desperately needed from the Great Depression. Folsom takes a critical, revisionist look at Roosevelt's presidency, his economic policies, and his personal life.

Elected in 1932 on a buoyant tide of promises to balance the increasingly uncontrollable national budget and reduce the catastrophic unemployment rate, the charismatic thirty-second president not only neglected to pursue those goals, he made dramatic changes to federal programming that directly contradicted his campaign promises. Price fixing, court packing, regressive taxes, and patronism were all hidden inside the alphabet soup of his popular New Deal, putting a financial strain on the already suffering lower classes and discouraging the upper classes from taking business risks that potentially could have jostled national cash flow from dormancy. Many government programs that are widely used today have their seeds in the New Deal. Farm subsidies, minimum wage, and welfare, among others, all stifle economic growth -- encouraging decreased productivity and exacerbating unemployment.

Roosevelt's imperious approach to the presidency changed American politics forever, and as he manipulated public opinion, American citizens became unwitting accomplices to the stilted economic growth of the 1930s. More than sixty years after FDR died in office, we still struggle with the damaging repercussions of his legacy.


Review :
Definitely a Raw Deal
Burton Folsom's New Deal or Raw Deal? is a timely, informative and captivating read on the destructive economic policies on the Franklin Delano Roosevelt Administration. This book is a valuable addition to the growing number of books on how government intervention, not free markets, plunged the United States deep into the Great Depression.

Folsom corrects many common misconceptions about the New Deal and the Great Depression in this book. The first misconception is that President Hoover was a principled advocate of laissez-faire capitalism. In fact, Folsom argues, Hoover was a big government Republican. Consider the Smoot-Hawley Act, which imposed unprecedented tariffs on thousands of imported items. Not only did this drastically increase the prices of U.S. imports (hurting U.S. consumers), but it also encouraged European nations to impose retaliatory tariffs on U.S. exports (hurting U.S. producers.) Furthermore, Hoover responded to the early onset of the Great Depression...
Please, no more new deals
Folsom has delivered a book that is tough to put down. While flying to a conference the other day, I was reading New Deal or Raw Deal and telling my friend (who was reading another book) how great Folsom's book is and talking about some key points brought up by Dr. Folsom. I left my seat for a moment; when I returned, my friend was reading Folsom's book, and I had a hard time getting it back.

Roosevelt helped create major rifts between those who were wealthy and those who were poor and middle class. He even indicated he did that to win the election rather than pursue what was best for the country. He tried to stack the Supreme Court and used the IRS to harass his major critics.

I've had to remind myself repeatedly that this is not a fictional work and that it is about a president in the USA rather than a dictator in some distant country. For example, the New Deal's birth of the National Industrial Recovery Act of 1933 was bizarre. "It allowed American...
Should be Mandatory Reading for Every Citizen!
I'll confess to not being a fan of big government so I was prepared to be receptive to a harsh assessment of the New Deal. However, I was not prepared for the scathing indictment armed with facts, logic, primary source quotes and data that constitute this powerful book.

The book is hard to put down even as you recoil in horror at the lunatic economic policies of the era and the blatant turn to fascism. If you tried to design a program to extend the Great Depression indefinitely, you could have done little better than FDR did. The economic incompetence and unintended consequences which are detailed in all their frightening glory is mind boggling, but it is only part of the story.

The book also demonstrates the endemic political patronage and vote buying that resulted from the concentration of money and power in the hands of the federal government. State and local politicians who supported Roosevelt were rewarded with a cascade of federal dollars, those who opposed...