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by CryptoPunk 2899 days ago
The New Deal was responsible for stretching the Depression out for several additional years. It was one of the most economically ignorant and harmful interventions in US history.

Food was actually destroyed during the New Deal to create artificial scarcity in agricultural produce:

https://livinghistoryfarm.org/farminginthe30s/crops_17.html

This destruction of agricultural stock was based on the idea that the problem in the economy was low nominal prices, when that was merely the symptom of the contraction in the money supply as a result of widespread defaults and an erosion in lending.

The low nominal prices were a natural reaction to the reduced money supply, that enabled consumption levels to remain at their pre-crash levels. With their efforts to increase nominal prices by creating artificial scarcity, all the New Deal officials did was reduce economic output, and with it, consumption levels, resulting in lower quality of life.