When the Great Depression befell the nation there were no blogs. There wasn't even a Fox News. Thus, the narrative, or better, myth that emerged from the experience cast Franklin Roosevelt as the hero who saved us from economic oblivion.
More recent scholarship has disputed this narrative. Among the most recent we must count Amity Shlaes: The Forgotten Man: A New History of the Great Depression.
As Shlaes sees it, the Hoover and Roosevelt administrations made policy mistake after policy mistake, turning a stock market crash into a Great Depression. And the Federal Reserve did not exactly cover itself with glory either.
Narratives matter, especially when they become dogmatic belief. Given that the Obama administration believes in the classical narrative, whereby Roosevelt saved the world, our president has just spent twenty months repeating all of Hoover and Roosevelt's mistakes.
So explains Amity Shlaes, in this adaptation of a lecture she gave at Hillsdale College. Therein Shlaes explains draws out the parallels between the errors that led to the Great Depression and the policies of the Obama administration. Link here.
The comparisons are positively frightening.