By Noel Bagwell
November 24, 2008
People continue to compare Obama to FDR. Sweetness & Light has an interesting article about this phenomenon. They quote an article written by Meg Sullivan back in 2004 for the UCLA Newsroom entitled “FDR’s policies prolonged Depression by 7 years, UCLA economists calculate,” which I will reproduce, in part, here:

FDR’s policies prolonged Depression by 7 years, UCLA economists calculate
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
“Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”
In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.
. . .
Cole and Ohanian calculate that NIRA and its aftermath account for 60 percent of the weak recovery. Without the policies, they contend that the Depression would have ended in 1936 instead of the year when they believe the slump actually ended: 1943.
I find this fascinating for a couple of reasons, but primarily because Obama continues to emulate failures in policy-making. His popularity, despite this monumental flaw, demonstrates the short-sightedness and/or ignorance of history that is a prevailing trait in today’s generation of Americans.
I wrote an extensive analysis of Obama’s foreign policy agenda, a while back. Back then, he was talking about how much he admired George Marshall, whose failures contributed to – if, indeed, they did not directly lead to – the Communists’ victory over our ally, Chang Kai-shek, in China in 1949.
Not satisfied with repeating the failures of George Marshall in the field of foreign policy, Obama is set to also relive the failures of FDR at a time when we face the second greatest economic crisis in the last 100 years of our nation’s history. Perhaps choosing admirable 20th century historical figures to be role-models is not our new President-elect’s forte. He’s been talking a lot about his admiration of Lincoln, lately; so, maybe he’s realized this. I would encourage him to go even further back in history, though… back to John Smith of Jamestown, and forget the New ‘New Deal’.
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