Thursday, March 19, 2009

The Forgotten Man!


A couple of months ago I heard Rudy Giuliani recommend the book, The Forgotten Man. Newt Gingrich, Mark Sanford, Jon Kyl, Mike Pence and Fred Barnes have offered praise for it as well.

In the book, Amity Shlaes takes an in-depth look at the Great Depression and what effect Hoover and FDR's policies did to not only help but also prolong the depression.

I had put the book on hold at the library weeks ago and it finally became available. I've started reading it and below are just a couple of quotes that I've taken note of so far:
"But the deepest problem was the intervention, the lack of faith in the marketplace. Government management of the late 1920's and 1930's hurt the economy."

"Where the private sector could help to bring the economy back--in the arena of utilities, for example--Roosevelt and his New Dealers often suppressed it."

"The New Yorker Magazine's cartoons of the plump, terrified Wall Streeter were accurate; business was terrified of the president."

"Coolidge's personal wager about the 1920's was that the private sector would and should take the lead, and that then the possibilities for progress would be boundless."

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