Block, Siteadmin, SkipCaptcha, Upload, Automoderated users, delete, edit, move, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, protect, rollback, Administrators, template
295,443
edits
Changes
Jump to navigation
Jump to search
Line 259:
Line 259: + + + + +
Franklin D. Roosevelt (view source)
Revision as of 19:42, September 9, 2010
, 19:42, September 9, 2010→Legacy: critics
Roosevelt's image appears on the dime.
Roosevelt's image appears on the dime.
===Criticism===
It was essential that he do everything in his power to reestablish confidence in the economic system. What the nation needed was more jobs at machines, in ships, in mines and stores creating and distributing goods that were needed and providing wages and profits with which these goods could be purchased. If there are to be jobs for all they must be jobs producing something - goods and services. He began with a sweeping attack upon business and kept it up until the end of [[World War II]]. When Roosevelt came into power business was regarded as some gigantic criminal conspiracy against the welfare of the nation.
Business cannot function at full measure unless consumption is held within total output, and savings are produced. Those savings then must regularly flow into new investment. New investment means the flow of economic resources into establishing new industries and the expansion of old ones. It means encouraging construction trades, manufacturing, producing and installing new equipment and tools. It means allowing the creation of new private businesses. Instead FDR carried on ceaseless attacks and denouncements of business, warned people against it, subjected businesses to dozens of absurd, semi revolutionary schemes, coupled with deficit financing which ate up all the savings, inflation, utopian panaceas, constant preaching that profit was evil, investors parasites, and businessmen scoundrels and enemies of the people. <ref>''Roosevelt Myth'', Book 3, Ch. 4, [http://www.rooseveltmyth.com/cgi-bin/framed/2767/book/fdrmyth_Chapter_Four___Toward_the_Precip.htm ''Toward the Precipice''], Flynn, 1948.</ref>
==See also==
==See also==