The Forgotten Man: A New History Of The Great Depression

Author, Amity Shlaes History/Economics 420 pages. ISBN 978-0-06-093642-6

Why did a recession and a drop in the stock market snowball out of control and turn into a crash and a depression?
This #1 New York Times Business Bestseller answers these questions. With the benefit of hindsight, this objective retrospective documents in fine detail the mistakes of Hoover and the folly and hubris of FDR and his “brain trust.” It was a most profound period, establishing the progressive, statist government foothold firmly on a path that is still felt today. What should have been just one more typical recession was consequently exacerbated and prolonged, yet the progressives keep offering more of the same.

FDR was a great speaker and cheerleader. His speeches and fireside chats are legendary. He was also a sophist and inept bumbler whose hubris lead him to play arbitrary games with the economy and thus the lives of millions of Americans. Behind the scenes many of his primary “brain trust” advisers and second tier advisers were composed of socialists and communist sympathizers. Many were from the group known as the “Travelers” – a group of naive idealists that were infatuated with the novelty of the USSR after the revolution. They traveled to Russia in order to swoon at the feet of Stalin and Trotsky. Shielded from the atrocities and regaled with the “benefits” of communism they tried to remake America as soon as they could gain the ear of FDR.

Ultimately many of FDR’s policies, persecutions of businessmen and bureaucracies were nullified by the Supreme Court or collapsed under the weight of their own massive failure. Unfortunately, the media, then as today, ignored the actual outcomes in favor of the feel good intentions. That explains the rosy history that has been the predominant view all these years. The details and actual outcomes were ignored, and just in the nick of time war broke out and obscured the policy failures while changing the economic paradigm. Sure, some that fed at the public trough benefited, but overall it was an economic disaster for most. “The Forgotten Man” was the man that suffered in silence, not represented, but footing the bill.

In recent years many of the same misguided policies have been enacted. In retrospect, one day, hopefully soon, more people will see the parallels and we can finally stop repeating the mistakes of the past. The present economics are being covered up and whitewashed with phony accounting methods and disingenuous reporting of actual unemployment figures, etc.

Very well documented with an extensive bibliography anyone reading this book with an ounce of integrity will find it most difficult to perpetuate the mythos of the great FDR.

Definitely a must read for those interested in acquiring an objective perspective and the factual information required to combat the years of propaganda and the non-stop march of statism.

Respectfully,
O.A.