Jim Powell
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Greatest Emancipations: How the West Abolished Slavery
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FDR's Lucky Timing
JUNE 10, 2009 by JIM POWELL
It's not clear how any of FDR's 1933 policies could have accounted for a 17 percent increase in GDP, even if they promoted expansion, because they wouldn't have had time to ripple through the economy. It seems more likely that FDR had the good fortune to come into office near the bottom of the Depression, and enough adjustments in wages, prices, and other factors had occurred that the economy was ready to recover.
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