The peril of New Deal unintended consequences, too often ignored by history…

Jim Powell

Jim Powell

“Black people were among the major victims of the New Deal.  Large numbers of blacks were unskilled and held entry-level jobs, and when New Deal policies forced wage rates above market levels, hundreds of thousands of these jobs were destroyed.  Above-market wage rates encouraged employers to mechanize and in other ways cut total labor costs.  Many New Deal policies were framed to benefit northern industries and undermine the position of employers in the South, where so many blacks worked.  “New Deal labor policies contributed to a persistent increase in African American unemployment,” reported economist David E. Bernstein.” FDR’s Folly, How Roosevelt and His New Deal Prolonged the Great Depression, Copyright ©2003 by Jim Powell, Published by Crown Forum, New York, NY, Page xi.

About Michael

Retired military officer; retired Air Force civil servant; retired executive, DS Information Systems Corporation; writer; researcher; reader and avid yachtsman.
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