Tag: FDR

United States of Fear »

[F]irst of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of...
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Terrorism by Any Reasonable Definition »

Sixty-seven years ago, on August 6, 1945, the Truman administration dropped an atomic bomb on Hiroshima, instantly killing tens of thousands of men, women, and children, and causing a nuclear catastrophe that took thousands of more lives in the weeks and years that followed. Three days later, on August 9, the U.S. followed up...
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A (Brief) Critical Review of “This Time is Different” »

Eastern bloc economists Carmen Reinhart, she of the University of Maryland, and Kenneth Rogoff, he of Harvard, have gotten rave reviews for This Time is Different: Eight Centuries of Financial Folly, published in 2009 by Princeton University Press. I started reading it today, now that the book is out in paperback. It didn’t take...
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It’s Housing, Stupid! Parallels Between the 1920s and the 2000s »

In response to my recent essay “Obama and Hoover: Two ‘Smart’ (Stupid) Presidents”, one commenter did me the service of rehashing the old myths about the 1920s and the causes of the depression and how Herbert Hoover did little, FDR did a lot and Hoover has nothing in common with “Wonder Boy” Obama. (Coolidge...
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Commencement Season Disconnect »

Like millions of families this month, we attended a commencement ceremony this past weekend, at Mills College, a liberal arts college for women in California. Mills was founded as the Young Ladies’ Seminary, and a few years later was bought by missionaries Cyrus and Susan Mills, who relocated it to Oakland and directed its...
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Presidential Role Model »

On this President’s Day weekend, let us commemorate the record of the best president in U.S. history: John Tyler. A random poll of Americans would draw mostly puzzled looks at the name, but according to Independent Institute Senior Fellow Ivan Eland, in his 2009 ranking of the presidents, Recarving Rushmore, this 10th U.S. president...
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Debating the Great Depression: Steve Horwitz’s Latest Contribution »

The Great Depression has been a deeply contested subject from the very beginning. After John Maynard Keynes’s General Theory became sacred writ for most mainstream economists, Keynesian interpretations generally prevailed, notwithstanding pockets of resistance among older economists, in general, and Austrian school economists, in particular. Milton Friedman and Anna Schwartz’s monumental Monetary History of...
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Should Wages Never Fall? »

Sudeep Reddy, writing on the front page of January 11th’s Wall Street Journal, claims that one of the “ugly” legacies of the current economic crisis is a “lasting drop in wages”. Following National Public Radio’s modus operandi for reporting “news”, he supplies some human-interest stories recounting the experiences of former money managers and other...
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It’s Pearl Harbor Day—Trot Out the Official Fable »

Sixty-nine years ago, Japanese forces attacked the U.S. naval base at Pearl Harbor, Hawaii, provoking the United States to declare war against Japan. When Japan’s ally Germany declared war on the United States on December 11, 1941, the United States immediately reciprocated. These actions brought the United States into open warfare against the Axis powers and...
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Is Obama a Traitor to His Class? »

As businessmen, including many who supported Barack Obama’s presidential campaign, continue to go public with complaints about regime uncertainty and its discouraging effect on the economy’s recovery, some observers are speculating that the tycoons’ animus is driven at least in part by their sense of betrayal: they had recognized Obama as a member in...
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  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org