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View Diary: FDR and the New Deal Did Not Prolong the Great Depression (56 comments)

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  •  Well, actually: (1+ / 0-)
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    If you measure by GDP, in 1937 GDP reached the preDepression level. The economy grew from its trough in 1933 back to its normal level in four years. The 1938 drop in GDP is sometimes called "a recession within a depression." At any rate, New Deal programs were restarted and 1939 GDP was higher than in 1937.
     You can get an argument as to whether New Deal programs or war material orders from Europe was most responsible for the 1939 upsurge.
      At any rate, in the period 1933-1941 (the last prewar year) GDP more than doubled.

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