Randall Parker Cautions Against Increase in Cost of Labor
Cato Institute - Cato Institute
With the economy in a deep recession and policymakers turning to massive government intervention in an attempt to create jobs and bolster the financial system -- it feels like the 1930s all over again. Today's new New Deal is rapidly unfolding, with the Obama administration and many lawmakers making it clear that any question of the success of FDR's New Deal policies was resolved long ago: government intervention worked, and history bears repeating.However, there are deep disagreements about the New Deal, and whether Roosevelt's policies deepened the depression and delayed recovery.