Changes your understanding of the Great Depression, June 13, 2007
By Newt Gingrich (Washington, DC United States)
This review is from: The Forgotten Man: A New History of the Great Depression (Hardcover)
Amity Shlaes: The Forgotten Man: A New History of the Great Depression HarperCollins, 2007, 433pp
This is a remarkable book which will forever change your understanding of the Great Depression, Franklin Delano Roosevelt's role and the lessons to be learned from government intervention.
Amity Shlaes makes a compelling case that Hoover and Roosevelt actually lengthened the Depression. They did this, Shlaes argues, by following bad monetary policy, which further deflated the currency, and by raising tariff barriers, which broke up world trade and reduced economic activity everywhere.
Shlaes makes the best case I have seen that business confidence is the key to economic expansion and that each step of the New Deal was a further blow to business confidence.
She also explains the view of the pre-government control entrepreneurs and investors who had created an extraordinarily successful country prior to 1929.
This is a superb book well worth reading, studying and then thinking about for a long time.
From Amazon.com
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