Was the New Deal a success in ending the Great Depression?
t. Poul Kragmin
>>1523960
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://eml.berkeley.edu/~cromer/What%2520Ended%2520the%2520Great%2520Depression.pdf&ved=0ahUKEwiNl7iJyLLOAhUJD8AKHcgQDb0QFggeMAA&usg=AFQjCNFO9FceS4twNNm7xyKrZP-VQIWSUg&sig2=Be63hGWKrN9SZodrOOnQCg
Christina Romer, an aide to Obama, did a study that found that most of the recovery came through monetary ( rather than fiscal ) means. FDR did devalue the dollar which helped a lot.
According to Scott Sumner the increase in spending in the new deal was counteracted by NIRA ( a nice sounding but ultimately contractionary policy ) and that the devaluation of the dollar was a big oomph.
No
It did help to lessen how strongly it affected the common man, but it did little to actually jump start the economy or create wealth. It was applying pressure on an arterial bleed.
Sure the guy isn't bleeding out anymore, but as soon as you take off that pressure he's gonna continue bleeding you. You need a surgeon.
>>1523960
Yes
Hitler saved America.
We were pulled out of the depression by selling things to Europe and loaning them money. Then the War and rationing masked the last years of the depression. Then Boom times as the USA was the only industrial country left intact.
>>1523960
No
New Deal gave us the means to boom with our entry into WW2 however. So it was somewhat beneficial.