Great Depression

Rethinking the Great Depression and the New Deal

I’ve become increasingly interested in the history of the 1930s, and I just finished Eric Rauchway’s The Great Depression and the New Deal: A Very Short Introduction.  It has become increasingly clear to me that there are major holes in the dominant historical narrative about the Great Depression, the New Deal, and the Roosevelt administration.  The standard, high-school-textbook version of the story goes something like this: “Greedy stock market speculators caused the stock market crash of 1929, which triggered the worst depression in American history; President Herbert Hoover believed in an outdated laissez-faire economic philosophy, so he did nothing; thankfully, President Roosevelt was elected, and his New Deal policies saved capitalism and helped the common man survive the Great Depression; and finally, World War II was an enormous boon to the U.