Wednesday, December 5, 2007

'The Forgotten Man'...A MUST Read

"The forgotten man... He works, he votes, generally he prays, but his chief
business in life is to pay." - William Graham Sumner


So sets the stage of the new book, The Forgotten Man, by Amity Shlaes. Miss Shlaes uses her experience, as a financial columnist and historian, to take a new look at The Great Depression. Specifically, FDR's impact on the economy, and Sumner's forgotten man, during that time. This is history I never learned in school. The focus is on citizens, not programs, and how they fared under the New Deal.

FDR's merciless attacks on "big business."

His attempts to pack the Supreme Court.

The creation of special programs, via Executive Order, with no oversight from Congress.

The Federal Government's entry into the utilities industry.

The second Crash in 1938.

The personal stories, and intriguing facts and detail, keep The Forgotten Man from being a drab read. As a conservative, an interesting observation struck me: In an effort to get more cash in circulation, FDR did not call for tax cuts to put more money in the hands of consumers to spend in the free market. President Roosevelt demanded more government programs.

I highly recommend this book.

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