UCLA Economists: Government Intervention Prolonged Great Depression
politics, government, nanny state, economics, economy, crisis
October 27, 2008, by Paul Detrick
Sometimes government tries to fix the problem; then it makes the problem worse.
In 2004, economists at the University of California, Los Angeles (UCLA), studied the policies of President Franklin Roosevelt's New Deal and determined it actually prolonged the Depression by seven years.
FDR's policies prolonged Depression by 7 years, UCLA economists calculate
August 10, 2004, by Meg Sullivan
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.