Where the New Deal Went Badly Wrong

ECON - 2009-07-15 - Where the New Deal Went Badly WrongHarold L. Cole (University of Pennsylvania) and Lee E. Ohanian (University of California at Los Angeles) have written an interesting piece in the third quarter 2009 issue of The Milken Institute Review.  The title of the article is Where the New Deal Went Badly Wrong.  The authors argue that the meddling with markets during the 1930s did more harm than good, lengthening the Great Depression by some seven years. “Indeed, the New Deal is best seen as a cautionary tale for those prepared to rush to regulate the economy.”   The article can be found at: http://www.milkeninstitute.org/publications/mirsp/16-25mr43.pdf .

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