By Jonathan Bean | Sunday July 24, 2011 at 9:13 PM PDT | 10 Comments
(Continued from previous post). During the 1932 campaign, Franklin Roosevelt had a reputation as a mealy-mouth politician who made many promises but held his real plans close to his chest. The following cartoons capture that well: Of course, we now know that with his First Inaugural address (listen here), FDR took on the role...
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Tags: American History, Budget and Tax Policy, Economics, Federal Reserve, Franklin D. Roosevelt, gold standard, Great Depression, Money and Banking, Presidential Power
By Jonathan Bean | at 6:41 PM PDT | 3 Comments
Robert Higgs noted here on July 6th that FDR defaulted on the national debt by “going off the gold standard.” Moreover, FDR was (and is) much praised for his courageous action in favor of the “little guy” and against “sound money” bankers. FDR did this with a stroke of the pen (Executive Order) and...
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Tags: American History, Barack Obama, Budget and Tax Policy, Economics, Federal Reserve, Franklin D. Roosevelt, gold standard, Inflation, Money and Banking, Nationalization, Presidential Power, The State