Hardly anyone remembers those wage and price controls now, and they certainly didn't cause an economic disaster that required forming a new political party.

The issue isn't economic disaster but not acting according to certain ideals.

Franklin Roosevelt's presidency imposed far more strenuous controls on the American economy during the Second World War, and the country seems to have recovered well from them after the war ended without radicalizing people into libertarians.

Roosevelt was a Democrat. Anybody who wanted less price controls then Roosevelt could go to the Republicans. Richard Nixon was a Republican. Going to the Democrats wouldn't helped, so he needed a new party.

Open thread, Dec. 15 - Dec. 21, 2014

by Gondolinian 1 min read15th Dec 2014309 comments


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