"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy. ... Roosevelt's policies were very destructive. Roosevelt's policies made the depression longer and worse than it otherwise would have been."
Milton Friedman
(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"
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Reader comments about this quote:
Roosevelt's "reign" marked the downfall of Constitutional principle to the present day. He did more damage to these principles than any other president since Lincoln chose to abrogate the power preserved by the individual States to sucede over disagreement. Ironic that Lincoln freed the slaves and FDR made slaves out of all of us, regardless of race or religion.
 -- Anon     
    And the same government/banking system is about to repeat itself. Its all by design. The design is, more for them, less for you.
     -- J Carlton, Calgary     
    When considering the whole of the foreign despot(s) that infest this land (elected/non-elected), inclusive of their bank, we hold this truth to be absolute.
     -- Mike, Norwalk     
    I agree with Anon, however Lincoln only freed some of the slaves, not all. Read "Lincoln Unmasked" for the details. Lincoln never really cared about freeing slaves, the war was about secession, not slavery.
     -- jim k, austin     
     -- Anonymous, Reston, VA      
    Friedman has been debunked. He is nothing more than a political hack, not a decent economist at all. He is nothing more than an apologist for Reaganism and that other indecent guy Laffer. Like Cheney and that entire Republican mob that has run our economy into the ground and our government into debt for twenty of the last 28 years they are like Laffer's name laughable. See my analysis of Friedman at his last quote several days ago. Why in the world does liberty-tree quote someone like Friedman anyway?
     -- Waffler, Smith     
    What an ignorant bunch of crap you keep trying to sell Waffler. Sad. FDR is being redone as we sit here and the results will be as bad or worse if the bozo in the white house has his way. At least FDR did not know better as we now do. Obama probably does too. I fear that the devastation his policies are causing is purely intentional.
     -- warren, olathe     
    Komrad Waffler ,Milton Friedman a political hack, are you completely insane ? For political hacks, just look at all the old Clinton re-treads that Obama has appointed. Political hacks would be a compliment to that bunch.
     -- jim k, austin     
    This has been confirmed over and over, but wanna-be opinion-makers like Waffler will never cease with disinformation. It makes me smile -- Waffler cannot understand why this site keeps quoting Milton Friedman -- ;-) Gee, I have no idea... I mean what does this quote have to do with Liberty? LOL
     -- E Archer, NYC     
    Pure bullshit.
     -- Dick, Fort Worth     
  • 1
    Interesting bullshit if you ask me, especially when Bernanke finally admitted this to Friedman at his birthday party. http://www.wnd.com/index.php?pageId=59405 This is worth reading...
     -- Logan, Memphis, TN     
    I agree with this quote FDR was advised By some SOCIALIST from ENGLAND can't recall His name though. But from this person FDR came up with the New Deal. Don't Be fooled, Both Republican and Democrats are the same. They just take turns playing good cop bad cop. And both parties are taking us the same direction.
     -- Dan, Florida     
    Archer I am no wanna be opinion maker. I just state my truth and analyse correctly and you think it's hell.
     -- Waffler, Smith     
    Keynes was the socialist. It was his bright idea to run up the Government's "credit cards" to do business. Problem is our creditor, China, wants to cut up our credit card. Our gluttony on the backs of those without human rights is embarrassing. How much better would we be if we were debt free with savings for hard times? Crazy, radical thinking? Studies show the more you give children after they graduate, the less successful they will e later in life. At what point do you do so much that you have crippled an entire class od people to do for themselves? Two classes of slaves emerge those who expect to just subsist and those who bear the burden. The road to hell... Knowledge, not propaganda is our only hope.
     -- CBM, Tallahassee     
     -- Someone, Hamburg      
     -- Asdler, Milan      
     -- Ronw13, Yachats Or      
    Right on!

    Too bad we haven't learned.

     -- Bruski, Naples FL     
    For all the ad hominems, stated or implied, the statement, in and of itself is absolutely correct. Today's governmental mismanagement is even more heinous and is directly attributable to unconstitutional / immoral taxation and over regulation, theistic dogma implementation (inclusive of socialism's system of iniquity), enforcement of funny money degradation, tyranny's infernal / perpetual wars and the almost innumerable ways of financing poverty that are anti-laws of nature and of nature's God / anti-fiscal law.
     -- Mike, Norwalk     
  • 2
    Well said Mr. Mike, Norwalk
     -- Ronw13, Yachats Or     
     -- jim k, Austin      
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