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Reddit mentions of New Deal or Raw Deal?: How FDR's Economic Legacy Has Damaged America
Sentiment score: 4
Reddit mentions: 5
We found 5 Reddit mentions of New Deal or Raw Deal?: How FDR's Economic Legacy Has Damaged America. Here are the top ones.
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Specs:
| Height | 9.25 Inches |
| Length | 6.12 Inches |
| Number of items | 1 |
| Release date | November 2008 |
| Weight | 1.2 Pounds |
| Width | 1.16 Inches |
Welcome noob! Please read these books in this order, each are available for free in pdf or eBook, just right click and save:
Once you’re done with those, I’d suggest purchasing the following books:
Afterwards, if you have any questions about monopolies, consider the resources in this thread. Enjoy! If you need further reading suggestions let me know.
I start with some basic economics since often what people feel they have a foundation in, based on courses in college, is sometimes ... off target. I don't want to assume, so you may disregard them, but just in case.
Basic Economics:
Financial Crises/Housing Bubble:
Federal Reserve:
Great Depression:
This one on pollution and private property is useful when you start getting into the issue of how to deal with pollution in a free market.
And as another "starter" book, I've always been a fan of The Incredible Bread Machine - (It was one of the first books I read about the problems of govt intervention)
And Time will run back is a fiction book, but I like it because it really conveys economics through the sense of cause-and-effect.
> My teacher is a extremely progressive
That's going to be awesome!
I'd read New Deal or Raw Deal
>Veterans unemplotement is currently around 30%, so I would argue that the provate sector is that shallow. Some businesses are very helpful and respectful towards the men and women who have served this nation, but most, sadly, aren't. And you're right, college degrees do not automatically create success. But, college grad. unemployment is around 4% right now, while non-college educated people have an unemployment above 10%.
Even if we sent all of those unemployed veterans to college (or all of the other non-college educated), they would still face a stagnant job market with a college degree. That’s why we must seek policies that favor robust, but sound, economic expansion. Even if we assume the private sector is that shallow, which it’s not, the best way to force their hand is to generate so much growth that demand for labor outstrips supply. Siphoning more and more of their operating capital and/or increasingly regulating every corner of business simply cannot logically have this effect.
>These are not jobs added, and they would be jobs whether the tax rates on the rich are 1% or 50%.
These are jobs added/maintained. It’s simple supply/demand in this case: when more people can afford yachts, cabins in exotic locations, expensive cars, and other luxury items, demand increases. Given the prospect of profit, supply responds by increasing as well. Supply increasing doesn’t mean only existing firms expand, it also means new firms open in hopes of soaking up some of the increasing market. By taxing, you’re diminishing the demand for these products by reducing the amount of consumers who are capable of purchasing these luxury products. When demand falls, supply must respond as well: downsizing, layoffs, bankruptcies, etc. The reason is simply that the demand market for these goods can no longer sustain the existing crop of suppliers. This concept applies across the entire economy over every sector. Some firms would stay, but more would fall the more we reduce income.
> Why should we all be slaves to the rich? Why should all of oour jobs depend on what they choose to pruchese or not purchase?
We’re not slaves nor are all of our jobs dependent on what they choose to purchase. I’m only highlighting that wealthy individuals do fully/partially support certain sectors of our economy. Enormous sectors of the economy are largely supported by lower-income individuals as well: Goodwill Industries and other discount clothing retailers like TJ Maxx, McDonalds, Dollar Tree, flea-markets, etc. all quickly come to mind. Similarly, large portions of our economy are supported by the middle class” most automotive companies, casual dining restaurants, Polo Ralph Lauren, American Eagle, etc. come to mind. Importantly, though, this only represents the consumer side of our economy and not the more-important capital-investment side, but I’ll just leave it at that for now.
>They were going into bankrupcy and then government came in, and loaned them money, which they payed back, and are now workign at a profit for. Government was not in control of them under teh Bush years when thigns got fucked up to shit. Obama's stimulus package saved us from a depression, but if it was bigger, I would argure that it could have saved us from a recession.
They didn’t pay all of it back. The government still owns large shares of GM and Ally Bank, for example. Tax payers are expected to lose over 25 billion on the former. The amount of worldwide derivative debt is even larger than in 2008 (ie, the “too big to fail” banks are only bigger). All of this was only made possible by government attempting to circumvent the natural market regulation, the profit-loss incentive, which would’ve punished the firms with real bankruptcy for their mistakes and allowed their capital to redistribute to more efficient uses. Instead, their inefficient and dangerous activities were only reinforced by government, and thus they will continue until market forces ultimately win out and another bubble bursts.
Furthermore, our economic instability far pre-dates Bush and Obama. The prevailing economic philosophy, Keynesianism, in this nation has largely been unchanged since the Progressive era and all of our woes have simply been compounding. The only difference really is that the philosophy has been painted red or blue, Republican or Democrat, and called “conservative” or “liberal”. We won’t fix the economy until we fix the philosophy, which is why a large number of libertarians favor the polar-opposite philosophy of Austrian economics.
Ultimately, I think a lot of the disconnect here, as it is with the rest of the typical capitalists and the anti-capitalists is a misunderstanding of real capitalism and the result of capitalist policies. The GOP has done a wonderful job of completely misrepresenting what it means to stand for free-markets and the Democrats have done an equally wonderful job of exploiting that flawed portrayal. For that reason and since we’re limited to responding to only specific pieces of the larger argument in defense of capitalism, I strongly recommend you read these books to understand where we’re coming from. The first three are available for free (Bastiat’s are both less than 100 pages as well). These five books, along with several others, are what turned me from a born and raised neoconservative war-mongering Republican to a Libertarian today.
Hairydogg, it has been a good discussion, but I realize in posting what I did, in backing it all up with reference my entire morning will be squandered on doing that. I would suggest this book on FDR as a good start for getting the entire picture of why New Deal programs failed. FDR was a great orator and war president, but his economic ideas were utter failure.