Lordy, let's hope not. Prof. Boudreaux:
The evidence suggests that F.D.R.'s interventions only deepened and prolonged Americans' economic plight. In 1939 the unemployment rate remained abysmal, at 17.2 percent - no surprise given the drying up of investment during the 1930s. As Robert Higgs found, "In the period 1931-35, net investment totaled MINUS $18.3 billion. After reviving to positive levels in 1936 and 1937, net investment again fell into the negative range in 1938 (-$0.8 billion) before resuming its recovery. For the eleven-year period from 1930 to 1940, net private investment totaled MINUS $3.1 billion."
-Max Borders
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