FCL Series - Amity Shlaes - Forgotten Man - Great Depression

The Forgotten Man - A New History of the Great Depression The Forgotten Man: A New History of the Great Depression is a book by Amity Shlaes and published by HarperCollins. The book is a re-analysis of the events of the Great Depression, generally from a free-market perspective. The book criticizes Herbert Hoover and the Smoot-Hawley Tariff for their role in exacerbating the Depression through government intervention. It criticizes Franklin D. Roosevelt for erratic policies that froze investment and for not taking smart enough steps to stop the Depression. Shlaes criticizes the New Deal for extending the length of the Depression and for its effects on individuals. Shlaes praises the model offered by Wendell Willkie before the 1940 presidential election, where the New Deal would have been scaled back and business would have stepped in. The book begins with an anecdote of the 1937 recession, eight years after the Depression began, when Roosevelt adopted budget-balancing policies indistinguishable from the stereotype of what Hoover supposedly did. Shlaes presents her arguments in part by telling stories of self-starters who showed what the free market could have accomplished without the New Deal. PRAISE AND CONTROVERSY As of early 2009 The Forgotten Man has been praised by Republican luminaries as Newt Gingrich, Rudolph Giuliani, Mark Sanford, Jon Kyl, and Mike Pence. Fred Barnes of the conservative Weekly Standard has called Shlaes one of the Republican party's major assets. "Amity Shlaes's book on the failure of the New Deal to revive the economy, The Forgotten Man, was widely read by Republicans in Washington." In February 2009 during the Senate confirmation hearing for Energy Secretary Steven Chu, Republican Senator John Barrasso waved a copy of the book and announced, "in these economic times, a number of members of the Senate are reading a book called The Forgotten Man, about the history of the Great Depression, as we compare and look for solutions, as we look at a stimulus package." On the other hand, The Forgotten Man has been criticized by liberal Nobel Prize-winning economist Paul Krugman and others for "misleading statistics"; Shlaes rebutted Krugman's attacks in the Wall Street Journal, stating that she was simply citing statistics generated by the Bureau of Labor Statistics. Shlaes said that if the Obama administration "proposes F.D.R.-style recovery programs, then it is useful to establish whether those original programs actually brought recovery. The answer is, they didn’t." Writing in Forbes, former United States Department of Labor chief economist and Hudson Institute fellow Diana Furchtgott-Roth called it the "economic fight of the year." Other critics of The Forgotten Man include historian Matthew Dallek, who has called Amity Shlaes a "revisionist" with a "blind view of the New Deal," historian Eric Rauchway, who claims Ms. Shlaes ignored historical GDP easily available in the Historical Statistics of the United States, and journalist Jonathan Chait of the New Republic who has called the book self-contradictory, misleading, and inaccurate - an example of how leading Republicans prefer political "theology to history", and are willing to wipe "Hoover's record from their memories" and replace it "with something very close to its opposite." Amity Shlaes Senior Fellow for Economic History – Council on Foreign Relations Author of the bestselling The Forgotten Man: A New History of the Great Depression. Adjunct associate professor at New York University's Stern School of Business and syndicated columnist for Bloomberg. Current work includes a development of a new history of the 1960s. Expertise - Germany; Russia; history; economics; U.S. tax policy; relative competitiveness. Experience - Syndicated Columnist, Bloomberg, Financial Times (2000-2009); Commentator, Marketplace Radio (2005-present); Contributing Editor, The American (2006); Editorial Board Member, Wall Street Journal (1994-2000); Editorial Features Editor, Wall Street Journal (1992-94); Deputy Editorial Features Editor, Wall Street Journal (1990-92); Editorial Features Editor, Wall Street Journal/Europe (1986-90); contributed over the years to Fortune, Los Angeles Times, Chicago Tribune, Commentary Magazine, Cosmopolitan, Reader’s Digest, Spectator of London, Suddeutsche Zeitung, Die Zeit, National Review, New Republic, Tax Notes, New Yorker, review of the American Academy in Berlin, and Foreign Affairs; appeared on numerous television and radio shows, including NPR’s Morning Edition and On Point, in addition to Marketplace. Languages - German, French. Honors - American Institute in Contemporary German Studies (trustee); Jurist for fellows selection, American Academy of Berlin; Frederic Bastiat Prize (for writing on political economy, 2002); J.P. Morgan Fellow of Economics and Finance, American Academy in Berlin; Bradley lecturer, American Enterprise Institute; Finalist for the Loeb (prize in economic commentary). Selected Publications - Turning Intellect to Influence (coauthor, Reed Press, 2004); “Fluch der Rohstoffe,” Die Zeit (August 2003); “Lulling the Taxpayer: The Long-Standing Consequences of Devices Such as Withholding,” The Future of American Taxation: Essays Commemorating the 30th Anniversary of Tax Notes (Tax Analysts, 2002); The Greedy Hand: How Taxes Drive Americans Crazy and What to Do About It (Random House, 1999); “Give It Back,” Hoover Digest No. 4 (1999); “Germany’s Chained Economy,” Foreign Affairs (September/October 1994); Germany: The Empire Within (Farrar, Straus and Giroux, 1991). FCL Series – Shorthand for ‘Fiscal Conservative Libertarian’, the FCL Series is a list of torrents upped by Rambam1776 in support of economic education and the propagation of a centrist political viewpoint. A full essay (some call it a rant) proceeds most entries, but this intro is long enough. Click my name for more in the series and the rant. This torrent was originally upped by bakasama456 on Demonoid, but I have added notes and fixed all the tags. This book is a SERIOUS challenge and must read to those supporting the Obama Administration’s economic policies that mirror-image those of FDR. My sole comment is that those who are so convinced FDR saved us from the depression (and by extension the modern policies are a good thing) need to read and refute this book. Good luck, ‘cuz Shlaes ain’t wrong.

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