FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

FDR's Folly challenges the traditional narrative about Franklin D. Roosevelt's New Deal programs and their impact on America's economic recovery. Powell examines Roosevelt's policies during the Great Depression through an economic lens, questioning their effectiveness and unintended consequences. The book analyzes specific New Deal initiatives including agricultural programs, labor legislation, monetary policies, and public works projects. Through historical records and economic data, Powell presents arguments about how these programs may have interfered with market recovery mechanisms and extended the nation's economic struggles. The text includes examinations of key historical figures, competing economic theories, and alternative policy approaches that were available during the 1930s. Powell draws on primary sources and contemporary economic research to support his analysis. This work contributes to ongoing debates about government intervention in times of economic crisis and the long-term implications of expanding federal power. It raises questions about the relationship between political action and economic outcomes that remain relevant to modern policy discussions.

Readers report this book challenges mainstream narratives about FDR and the New Deal, with polarized reactions based on political leanings. Positive reviews highlight: - Clear presentation of economic data and statistics - Detailed research and source citations - Makes complex economic concepts accessible - Shows specific unintended consequences of New Deal policies Critical reviews note: - Perceived conservative bias and agenda - Selective use of data that supports the thesis - Oversimplified cause-and-effect relationships - Limited discussion of global economic factors Ratings across platforms: Amazon: 4.5/5 (274 reviews) Goodreads: 4.0/5 (526 ratings) Sample reader comments: "Provides evidence that government intervention extended the Depression" - Amazon reviewer "Cherry-picks data to fit a libertarian worldview" - Goodreads reviewer "Changed my perspective on New Deal programs" - Amazon reviewer "Too focused on criticism without offering alternatives" - Goodreads reviewer

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New Deal or Raw Deal?: How FDR's Economic Legacy Has Damaged America by Burton Folsom Jr The book uses economic data and historical records to demonstrate how New Deal policies affected employment, business growth, and market recovery during the 1930s.

The Great Depression: A Diary by Benjamin Roth A firsthand account from an Ohio lawyer chronicles the economic impact of government policies on businesses and individuals during the Depression era.

America's Great Depression by Murray Rothbard This economic analysis traces the roots of the Great Depression to federal policy decisions and monetary interventions in the 1920s and 1930s.

The Roosevelt Myth by John T. Flynn A contemporary journalist's investigation presents documentation about the economic consequences of New Deal programs and their impact on recovery efforts.

🗸 Despite his harsh criticism of FDR's policies, author Jim Powell is a Senior Fellow at the Cato Institute, which was originally named the Charles Koch Foundation - after the same Koch family that helped fund the Roosevelt Institution think tank. 🗸 The book challenges the widely-held belief that the New Deal saved America from the Depression, arguing that FDR's policies actually increased unemployment by about 7 million between 1933 and 1939. 🗸 Many of the New Deal programs discussed in the book remain active today, including Social Security, the Federal Deposit Insurance Corporation (FDIC), and the Securities and Exchange Commission (SEC). 🗸 The author draws heavily from UCLA economists Harold L. Cole and Lee E. Ohanian's research, which suggested that New Deal policies extended the Great Depression by seven years. 🗸 While controversial upon release in 2003, the book's arguments have influenced modern economic debates, particularly during the 2008 financial crisis when policymakers discussed the effectiveness of government intervention in economic recovery.