Uncertainty

(This post completes my three-part discussion of the "regime uncertainty" hypothesis, according to which the New Deal hampered recovery by causing businessmen to fear policy changes that might render their investments unprofitable.  Links to the previous posts about regime uncertainty, and to the other posts of my…

(This post continues my discussion of the "regime uncertainty" hypothesis, according to which the New Deal hampered recovery by causing businessmen to fear policy changes that might render their investments unprofitable.)   Insull's Monstrosity The 1935 Revenue Act wasn't the only measure that had businessmen and investors…

Understanding the NRA

"Without Roosevelt’s intervention, the economic recovery that lasted from 1933 to 1937 would have been weaker and shorter—-not unlike our own recovery after the Great Recession." (David Weiman, "Imagining a World without the New Deal," The Washington Post, August 12th, 2011.) *** In the previous installment to…