Kregel, Jan, (2016), “What We Could Have Learned from the New Deal in Confronting the Recent Global Recession”, Levy Economics Institute, March
To the extent that policymakers have learned anything at all from the Great Depression and the policy responses of the 1930s, the lessons appear to have been the wrong ones. In this public policy brief, Director of Research Jan Kregel explains why there is still a great deal we have to learn from the New Deal. He illuminates one of the New Deal’s principal objectives—quelling the fear and uncertainty of mass unemployment—and the pragmatic, experimental process through which the tool for achieving this objective—directed government expenditure—came to be embraced.
Relevant Posts
- Acalin, Julien, Blanchard, Olivier, et al., (2016), “Reality Check for the Global Economy”, PIIE Briefing 16-3, March
- Kose, Ayhan, Terrones, Marco, (2015), “Collapse and Revival : Understanding Global Recessions and Recoveries”, IMF Bookstore, October