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…