[Marxism] how successful was the New Deal?

Louis Proyect lnp3 at panix.com
Wed Dec 24 08:13:08 MST 2008

Dbachmozart at aol.com wrote:
> from portside.org - Committees of
> Correspondence for Democracy and  Socialism
> Learning From the New Deal's Mistakes
> The New Deal was, for the most  part, phenomenally
> successful, but there are many ways it could have  gone
> further or been better organized -- failings it is
> critical we avoid  this time around.
> by Eric Rauchway
> The American Prospect -  December 22, 2008 - web only
> The most important thing to know about  Roosevelt's
> economics is that, despite claims to the contrary, the
> economy  recovered during the New Deal. During
> Roosevelt's first two terms, the U.S.  economy grew at
> average annual growth rates of 9 percent to 10  percent,
> with the exception of the recession year of 1937-1938.

I hope to begin research on the New Deal after I get some other projects 
finished. But right at the outset, I would strongly advise comrades to 
take the reference to "annual growth rates" with a grain of salt, 
especially when you consider that during the 1960s Somoza's Nicaragua 
also had a spectacular growth rate.

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