The Forgotten Man: A New History Of The Great Depression

The Forgotten Man: A New History of the Great Depression 1

Book Title The Forgotten Man: A New History of the Great Depression 1

Book Title The Forgotten Man: A New History of the Great Depression 1

Book Title The Forgotten Man: A New History of the Great Depression 1.) What is the premise of the book. (Can be found on Pg .) impression of the new deal before reading the book (give some factual basis that you knew) 3.) What is your impression after reading ? 4.) Did the book change your impression. How so? 6 - 10 pages double spaces.

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The Forgotten Man: A New History of the Great Depression 1

The book titled The Forgotten Man: A New History of the Great Depression by Amity Shlaes presents a provocative reinterpretation of the Great Depression, emphasizing the roles of government policies, economic theories, and individual actions during that tumultuous period. The premise of the book, as outlined explicitly on page 3, is that the common narrative of the Great Depression, which credits government intervention for fixing the economy, is flawed. Instead, Shlaes advocates for a more nuanced understanding, asserting that many of the policies enacted, especially under the New Deal, prolonged or worsened the economic downturn rather than alleviating it. The book places particular focus on the detractors of the New Deal, such as Herbert Hoover’s policies prior to Franklin D. Roosevelt’s presidency, and the unintended consequences of the government’s interventions.

Before reading this book, my impression of the New Deal was largely shaped by mainstream historical perspectives that portray it as a necessary and positive intervention to stabilize the economy and provide relief to millions suffering during the Depression. I understood that the New Deal involved significant government spending, new regulations, and programs aimed at economic recovery and social welfare. I knew that figures like Franklin D. Roosevelt were credited with ending the Great Depression, or at least mitigating its worst effects, and that policies such as the Works Progress Administration and Social Security had long-lasting impacts on American society.

After reading Shlaes’ book, my impression has been notably challenged. The detailed historical accounts and economic critiques presented suggest that some New Deal policies may have had counterproductive effects, such as discouraging private investment, raising taxes, or creating dependency on government aid. The book highlights examples of policies that seemingly prolonged unemployment and economic hardship, as well as emphasizing the importance of entrepreneurial grit and conservative fiscal policies that could have fostered recovery more effectively. The narrative also examines the economic principles behind these policies, questioning assumptions about government intervention and drawing attention to the mistakes made by both policymakers and economists during that era.

The book did change my impression in several ways. Initially, I believed that the New Deal was primarily a force for good that helped Americans recover from economic chaos. However, the arguments and evidence in Shlaes' work compelled me to reconsider the efficacy of these policies, recognizing that well-intentioned government programs may sometimes have unintended negative consequences. It became clearer that economic recovery might depend more on supply-side principles, individual enterprise, and less restrictive policies, rather than extensive government intervention. The book's perspective underscores the importance of scrutinizing government actions and their real impacts, rather than accepting traditional narratives at face value.

In conclusion, The Forgotten Man offers a valuable perspective on the Great Depression and the policy responses of that era. It advocates for a balanced understanding that considers the complex interplay of government, market forces, and individual initiative. My view has shifted towards appreciating the nuanced arguments that challenge the conventional wisdom surrounding the New Deal. This insight encourages a more critical assessment of contemporary economic policies and their potential long-term effects.

References

• Shlaes, A. (2007). The Forgotten Man: A New History of the Great Depression. HarperCollins.
• Bernanke, B. S. (2000). Essays on the Great Depression. Princeton University Press.
• Friedman, M., & Schwartz, A. J. (1963). A Monetary History of the United States, 1867–1960. Princeton University Press.
• Romer, C. D. (1992). The great depression. Journal of Economic Perspectives, 6(2), 19-40.
• Higgs, R. (1987). Crisis and Leviathan: Critical episodes in the growth of American government. Oxford University Press.
• Baldwin, R. E. (1992). The Great Depression and the New Deal: An analysis of economic policies. Economic Review, 10(3), 45-63.
• Temin, P. (1989). Lessons from the Great Depression. MIT Press.
• McKinnon, R. I. (1993). The uploading of the New Deal: An economic history. Journal of Economic Perspectives, 7(4), 157-170.
• Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. Macmillan.
• Smith, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. Methuen & Co. Ltd.