Not to get too off topic here and maybe this is a topic for another thread but I think we overestimate the positives that came from the New Deal. I would suggest that it actually slowed the recovery through artificial means. Though there were three positives instituted in my eyes. The SEC, FDIC and eliminating the gold standard. The rest I think is subject to debate and I'd contend our Austrian economist may agree with me on this.
Interesting how we rarely do we hear criticism for these policies when we had a 1937 peak for per capita output which was lower than the previous peak in 1929 and the 1937 peak was followed by another crash. Net private investment was negative from 1930-1940 and private-sector production increased by almost one-third in 1946 alone, as private capital investment increased for the first time in 18 years. Correlated?
Interesting how we rarely do we hear criticism for these policies when we had a 1937 peak for per capita output which was lower than the previous peak in 1929 and the 1937 peak was followed by another crash. Net private investment was negative from 1930-1940 and private-sector production increased by almost one-third in 1946 alone, as private capital investment increased for the first time in 18 years. Correlated?
