wat0n wrote:The best case I've seen for claiming FDR's policies extended the Great Depression is that his pro-union measures effectively made hiring more expensive and this served to extend the crisis, the other one theory I've heard actually blames the Fed for becoming more restrictive in 1937. But honestly, just as one can mention those two examples of restrictive policies, one can also point out that FDR left the gold standard in 1933 and carried out a big devaluation before going back into it, and that this was pivotal to finally stopping the stage of contraction of the first years of the Depression. The Fed has something to say about this:
https://www.federalreservehistory.org/e ... ld-program
So in all, I think FDR's monetary policies helped end the crisis and plenty of evidence suggests this is the case.
There were also government introduced price controls especially in agriculture on top of general price controls by industries and collusion because FDR allowed for the sectors to self-regulate without government involvement if the sector reached agreement with the said union.
These are the 2-3 main ideas that I can remember when I talked and watched something on the subject.
1) Unions above.
2) Price controls by government
3) Monopolistic self-regulation and price control by sectors.
I do not think that any nation is hopeless to change; however, I think that some nations do require a lot more effort than others to become changed. - Verv