False Dawn: The New Deal and the Promise of Recovery, 1933-1947.

  • Published In: Foreign Affairs, 2025, v. 104, n. 5. P. 207 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: EICHENGREEN, BARRY 3 of 3

Abstract

The article discusses George Selgin's book "False Dawn: The New Deal and the Promise of Recovery, 1933-1947," which critiques the effectiveness of New Deal policies in stimulating economic recovery during the Great Depression. Selgin argues that the National Industrial Recovery Act increased costs for producers and created investor uncertainty, while modest fiscal stimulus and abandoning the gold standard did not significantly reduce unemployment. He attributes post-World War II economic growth to a revitalized private sector rather than government intervention or regulation, challenging prevailing narratives about the role of the public sector in fostering stability and growth. [Extracted from the article]

Additional Information

  • Source:Foreign Affairs. 2025/09, Vol. 104, Issue 5, p207
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • ISSN:0015-7120
  • Accession Number:187427876
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