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Books > Social sciences > Politics & government > Central government > Central government policies
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The Political Economy of the New Deal (Hardcover)
Loot Price: R3,382
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The Political Economy of the New Deal (Hardcover)
Series: The Locke Institute series
Expected to ship within 12 - 17 working days
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The Political Economy of the New Deal explores the political and
economic forces that shaped the highly uneven distribution of
federal emergency relief spending during the Great Depression. It
presents new empirical evidence on the Roosevelt administration's
response to the Great Depression, and shows how this was influenced
more by presidential politics than by the plight of the unemployed
millions. The authors apply public choice theory to data produced
by the Roosevelt administration to produce an empirical model of
New Deal spending decisions. It reassesses the role played by
politics in shaping the policies adopted by the New Dealers through
a detailed analysis of the distribution of federal emergency relief
funds. The authors present new econometric evidence supporting the
idea that President Roosevelt used the New Deal to buy electoral
votes. They suggest that states with healthier economies attracted
disproportionately larger shares of the federal government's relief
funds simply because they could afford the programs' costs; and
that states whose citizens were in greatest economic need were
required to bear more of the cost of financing projects. The
results from this analysis suggest that while economic need was
certainly not ignored, political considerations dominated the
distribution of New Deal dollars. This book examines the origins of
the modern American welfare state from a public choice perspective
and will be of great interest to economists and political
scientists, as well as those interested in the economic history of
the United States.
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