Did the New Deal Prolong or Worsen the Great Depression?

2010/01/01 by Greg Hannsgen, Dimitri B. Papadimitriou · 2 citations
Economics, Econometrics and Finance · #Economic Theory and Institutions #Historical Economic and Social Studies #Economic Theory and Policy

paper · doi:10.2753/0577-5132530103

openalex publication_date 2010/01/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29

Abstract

A revisionist view of economic history now holds that New Deal legislation that, in particular, enabled unionization in the early 1930s seriously prolonged the Great Depression. The freshwater economists who hold this view have had a wide hearing. These two economists consider their arguments and present a persuasive rebuttal.

Cited by

• Great Depression [wikipedia]
• New Deal [wikipedia]

Related

• Wage Theory, New Deal Labor Policy, and the Great Depression: Were Government and Unions to Blame?
• A New Deal Restoration: Individuals, Communities, and the Long Struggle for the Collective Good
• How Successful Was the New Deal? The Microeconomic Impact of New Deal Spending and Lending Policies in the 1930s
• Did Hayek and Robbins Deepen the Great Depression?
• New Deal Archaeology in the West