FDR's Poor 1930s Policy

            

Did Franklin D. Roosevelt really get us out of the Great Depression in the 1930s? Actually, he never succeeded at creating jobs. Though the public thinks he did.

We ought to learn from his then Treasury Secretary, Henry Morgenthau. The latter admitted in his memoirs at the end of his years of effort, and just before World War II, how we were still mired in unemployment. How 1937 and 1938 were particularly bad, after all the economic pump-priming after 1932.

                 

Roosevelt believed in high taxes and Keynesian spending by government that did not work. Yet, it’s the very philosophy often  used today. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)