✉news BusinessEconomy first seen 4 d ago, last 4 d ago, peak #3
Roosevelt, Mellon, and the Failure of Elites to Fix the Economy
Commentary revisits the Depression era, contrasting Herbert Hoover's Treasury secretary Andrew Mellon's advice to liquidate assets and let the downturn run its course with Franklin Roosevelt's activist New Deal response. The piece argues that elites in both eras proved unable or unwilling to fix the economy, drawing parallels between the 1930s policy failures and contemporary debates over elite competence on economic management.
Why now: Ongoing anxiety about the economy and elite institutions is driving renewed interest in historical comparisons with the Great Depression.
Franklin D. RooseveltAndrew MellonHerbert HooverThe Dispatch
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