Amity Shlaes

You know, recoveries are like people, you know, they can come back or they can elect to stay away. And the recovery took a look at the rate of experimentation under Roosevelt and said, I'll sit this one out one more year each time. So that was the problem. I mean, you can go for volumes, what happened in 37 and 36, but The real point about the Great Depression was the duration.

You know, recoveries are like people, you know, they can come back or they can elect to stay away. And the recovery took a look at the rate of experimentation under Roosevelt and said, I'll sit this one out one more year each time. So that was the problem. I mean, you can go for volumes, what happened in 37 and 36, but The real point about the Great Depression was the duration.

And there's a good case to be made that that was caused largely by government intervention.

And there's a good case to be made that that was caused largely by government intervention.

And there's a good case to be made that that was caused largely by government intervention.

Yeah. And particularly, he was just cautious about intervening. The excitement of reform is seductive, right? Oh, Roosevelt comes along. He's going to reform everything. He's reassuring. And he was reassuring. And he was also a great war leader, a great admiral, Roosevelt. You don't have to hate Roosevelt. To note the failure of his economic policy.

Yeah. And particularly, he was just cautious about intervening. The excitement of reform is seductive, right? Oh, Roosevelt comes along. He's going to reform everything. He's reassuring. And he was reassuring. And he was also a great war leader, a great admiral, Roosevelt. You don't have to hate Roosevelt. To note the failure of his economic policy.

Yeah. And particularly, he was just cautious about intervening. The excitement of reform is seductive, right? Oh, Roosevelt comes along. He's going to reform everything. He's reassuring. And he was reassuring. And he was also a great war leader, a great admiral, Roosevelt. You don't have to hate Roosevelt. To note the failure of his economic policy.

I mean, all of us know, even the most convicted, I mean, convinced democratic family gets whispered, well, only the war happens. brought the end to the Depression. Mother whispers to child, right? But why was that? And after the war, there was a great retrenchment. That is, the most dramatic laws of the New Deal were edited down quite seriously.

I mean, all of us know, even the most convicted, I mean, convinced democratic family gets whispered, well, only the war happens. brought the end to the Depression. Mother whispers to child, right? But why was that? And after the war, there was a great retrenchment. That is, the most dramatic laws of the New Deal were edited down quite seriously.

I mean, all of us know, even the most convicted, I mean, convinced democratic family gets whispered, well, only the war happens. brought the end to the Depression. Mother whispers to child, right? But why was that? And after the war, there was a great retrenchment. That is, the most dramatic laws of the New Deal were edited down quite seriously.

I'm thinking here of the Wagner Act of 1935 being edited in the Taft-Hartley Law that followed World War II, or when President Truman wanted to nationalize a company, the Supreme Court said, sorry, you can't do that. So the most dramatic New Deal efforts were undone. Social security, which everyone agreed was kind of okay, useful, important. Sometimes a lifesaver was left in place.

I'm thinking here of the Wagner Act of 1935 being edited in the Taft-Hartley Law that followed World War II, or when President Truman wanted to nationalize a company, the Supreme Court said, sorry, you can't do that. So the most dramatic New Deal efforts were undone. Social security, which everyone agreed was kind of okay, useful, important. Sometimes a lifesaver was left in place.

I'm thinking here of the Wagner Act of 1935 being edited in the Taft-Hartley Law that followed World War II, or when President Truman wanted to nationalize a company, the Supreme Court said, sorry, you can't do that. So the most dramatic New Deal efforts were undone. Social security, which everyone agreed was kind of okay, useful, important. Sometimes a lifesaver was left in place.

Okay, that's a good compromise for America.

Okay, that's a good compromise for America.

Okay, that's a good compromise for America.

They didn't get him. I mean, he came up suddenly, and there were other Coolidges, fancier Coolidges from Boston, who were known quantities to, say, Henry Cabot Lodge, the very senior senator from the Bay State. And who is this other Coolidge? There's a comment from Lodge, who is a real... A recognizable snob. He said, I didn't know Coolidge until it was necessary to know him, referring to Calvin.

They didn't get him. I mean, he came up suddenly, and there were other Coolidges, fancier Coolidges from Boston, who were known quantities to, say, Henry Cabot Lodge, the very senior senator from the Bay State. And who is this other Coolidge? There's a comment from Lodge, who is a real... A recognizable snob. He said, I didn't know Coolidge until it was necessary to know him, referring to Calvin.

They didn't get him. I mean, he came up suddenly, and there were other Coolidges, fancier Coolidges from Boston, who were known quantities to, say, Henry Cabot Lodge, the very senior senator from the Bay State. And who is this other Coolidge? There's a comment from Lodge, who is a real... A recognizable snob. He said, I didn't know Coolidge until it was necessary to know him, referring to Calvin.