In The Forgotten Man, Amity Shlaes, one of the nation's most-respected economic commentators, offers a striking reinterpretation of the Great Depression. She traces the mounting agony of the New Dealers and the moving stories of individual citizens who through their brave perseverance helped establish the steadfast character we recognize as American today.
The Forgotten Man: A New History of the Great Depression November 22, 2008 Excellent well researched book on an important period in American history that has affected our country to this very day, and the lessons will probably not be heeded now. First time that have ever read the truth of what actually occurred in the Depression of the 1930's.
In one sentence, "FDR spitballed." November 21, 2008 This book, in one sentence, is "FDR spitballed."
Before reading this book, you may want to read the serendipitous companion book Liberal Fascism: The Secret History of the American Left, From Mussolini to the Politics of Meaning. Goldberg's book (coincidentally and independently) touches upon the same themes as Shlaes, but includes more detail about the antecedents: the Progressive Movement, the Wilson Administration, and has a comparison with the other EuroFascists.
After reading this book, read The Road to Serfdom: Text and Documents--The Definitive Edition (The Collected Works of F. A. Hayek). Hayek suggests ways to tool-down after having a command/centralized economy that developed during WWII. In short, Hayek's book is the anti-New Deal.
In-between, as you study this very readable book, pay close attention to the metrics at the beginning of each chapter. In all the legislation, alphabet agencies, Supreme Court packing, fireside chats, and general floundering, the unemployment percentages and DJIA numbers remain fairly stable.
In short, FDR was spitballing.
This book does have its lighter moments, if you are into sick comedy. Read pages 148-149, where FDR would set gold prices at random. Then skip to page 150, where Roosevelt seems indifferent to his being incoherent. Then read page 168, where the AAA kills six million pigs to create an artificially scarcity to move pork prices up.
FDR spitballed, and frequently missed.
The paperback edition contains a new afterward. I'm not sure why this was left out of the hardcover edition, since it sums up Shlaes findings, and is where she asserts her conclusions. If you got the hard cover, you got ripped off. But begin the book by reading this section, since it provides the road map for the lush and complex tale.
Younger readers (who lack practical work-force experience) may need a background in economics. I suggest Common Sense Economics: What Everyone Should Know About Wealth and Prosperity, then Sowell's indispensable Basic Economics 3rd Ed: A Common Sense Guide to the Economy and Applied Economics: Thinking Beyond Stage One. All three of these are better works than Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything.
Characters of the Era November 18, 2008 0 out of 1 found this review helpful
Well written and easy to follow description of the characters behind the events during the FDR administration. If you look for a comprehensive book about the Great Depression, its causes and consequences, you will not find it in this book. However, for readers already knowledgeable on those events, it is a great supplement of information. If you want to grasp the characters of the time, this book is a must.
The Forgotten Man November 17, 2008 0 out of 1 found this review helpful
Execllent, scholarly work. A must read to see how much the Depression and the New Deal are reflected in our current financial mess and government.
Pull in the Reins November 17, 2008 This is a good book, but seems almost too detailed. The author discusses meetings, letters and events that sometimes have little to no bearing on the subject.
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