Cracking New Deal Myths – How the New Deal shafted ‘the working man’…

Jim Powell

Jim Powell

“The flagship of the New Deal was the National Industrial Recovery Act, which authorized cartel codes restricting output and fixing high prices for just about every conceivable business enterprise, much as medieval guild restrictions had restricted output and fixed prices.  That FDR approved contraction was astounding, because the American people had suffered through three years of catastrophic contraction.  With the National Industrial Recovery Act, it actually became a crime to increase output or cut prices―a forty-nine-year-old immigrant dry cleaner was jailed for charging 35 cents instead of 40 cents to press a pair of pants.” 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 xii.

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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