{"id":528902,"date":"2010-04-15T17:11:44","date_gmt":"2010-04-15T21:11:44","guid":{"rendered":"http:\/\/www.szone.us\/f86\/politically-incorrect-guide-great-depression-new-deal-robert-p-42382\/"},"modified":"2010-04-15T17:11:44","modified_gmt":"2010-04-15T21:11:44","slug":"the-politically-incorrect-guide-to-the-great-depression-and-the-new-deal-by-robert-p","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/528902","title":{"rendered":"The Politically Incorrect Guide to The Great Depression and The New Deal by Robert P."},"content":{"rendered":"<div>04.14.10 07:01 PM<\/p>\n<p>Chances  are what you learned in school about the causes of the Great Depression and the  effects of the New Deal and Word War II on the American economy are all wrong.  If you were taught to believe the free market caused the Great Depression and  the New Deal and World War II got us out of it, reading <i>The Politically Incorrect Guide to The Great Depression and The New  Deal <\/i>will set you straight.<\/p>\n<p>Murphy  earned his Ph.D. in economics at New York  University and served as a professor  at Hillsdale College. He is now an adjunct scholar  with the Ludwig von Mises Institute, a senior fellow in business and economic  studies at the Pacific Research Institute and economist with both the Mackinac Center for Public Policy and Institute  for Energy Research. In <i>The Politically  Incorrect Guide<\/i>, Murphy provides irrefutable evidence that the not only did  government interference with the market cause the Great Depression, but the big  government policies of Herbert Hoover and Franklin Delano Roosevelt made it  last longer and become more severe than necessary.<\/p>\n<p>Murphy  deals with the three main explanations of the Great Depression: 1) The wildcat  free market caused the Great Depression and the New Deal pulled us out of it;  2) A Market economy goes through natural ups and downs, but the Federal Reserve  let the money supply collapse in the early 1930s, turning a normal downturn in  the Great Depression; and 3) The Federal Reserve fueled the stock market boom  of the 1920 with its easy money policies. After the crash, the Fed did the  wrong thing by cutting rates and propping up unsound institutions. Hoover\u0092s and FDR\u0092s  interventions in the economy only made things worse.<\/p>\n<p>He  dissects each argument and provides evidence that the third explanation is the  most plausible.<\/p>\n<p>Austrian  school economists believe FDR\u0092s New Deal was terrible for small business in America, with its  wage and price control policies, restrictions and higher taxes hindering  innovation and expansion. It also resulted in long-term high unemployment. And  Murphy makes a strong case that this is so. He also shows how FDR\u0092s banking  holiday and the ensuing \u0093safeguards\u0094 placed on the banking industry created  many more problems than they solved.<\/p>\n<p>Finally,  Murphy makes the case that today\u0092s recession is much like the Great Depression  in cause and effect, and that because President Obama\u0092s economic policies mirror  FDR\u0092s in so many ways, the result will be a recession that is deeper and lasts  longer than is necessary.<\/p>\n<p><i>The Politically  Incorrect Guide to The Great Depression and The New Deal<\/i> is an easy and  quick read that is written in such a way as to give a good history  lesson\u0097without being too technical\u0097for those seeking a better understanding of  that dark period in America\u0092s  history. It also provides the reader with a better understanding of how our  country got into its current financial mess.<\/p>\n<p><a href=\"http:\/\/www.personalliberty.com\/suggested-reading\/the-politically-incorrect-guide-to-the-great-depression-and-the-new-deal-by-robert-p-murphy-ph-d\/\" >http:\/\/www.personalliberty.com\/sugge&#8230;p-murphy-ph-d\/<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>04.14.10 07:01 PM Chances are what you learned in school about the causes of the Great Depression and the effects of the New Deal and Word War II on the American economy are all wrong. If you were taught to believe the free market caused the Great Depression and the New Deal and World War [&hellip;]<\/p>\n","protected":false},"author":4498,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-528902","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/528902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4498"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=528902"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/528902\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=528902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=528902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=528902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}