Kibbe on Liberty Ep 322 | Everyone Is Wrong About the New Deal | Guest: George Selgin
Mar 5, 2025
George Selgin, a leading economist at the Cato Institute and author of "False Dawn," delves into the complexities of the New Deal. He challenges the binary views of Roosevelt as either savior or villain, arguing that misconceptions cloud its economic impact. The discussion highlights the New Deal's non-Keynesian nature and its lagging recovery effects due to hostility toward private industry. Selgin also connects historical monetary theories to modern concepts like Bitcoin, exploring alternatives to traditional banking systems.
56:52
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Intro
00:00 • 3min
Exploring Literature and Monetary Theory
02:50 • 14min
Exploring the Roots of Economic Thought and Digital Currency
17:00 • 2min
Austrian Economics and Bitcoin's Legacy
19:20 • 17min
Keynesians and the Military-Industrial Complex: A Historical Analysis
36:20 • 2min
Misconceptions of Keynesian Economics
38:07 • 14min
Analyzing the Economic Impact of the New Deal
51:37 • 5min
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Nearly a century after President Franklin Delano Roosevelt spearheaded a sweeping set of economic policies known as the New Deal, the debate still rages over whether he was a hero or a villain. Defenders of the New Deal credit it with ending the Great Depression and pioneering a number of important social programs. Detractors claim it prolonged the Depression due to the reckless government spending demanded by Keynesian economics. Matt Kibbe sits down with George Selgin, author of "False Dawn," who argues that both of these viewpoints miss important details about the New Deal and its impact on the economy. In the first place, it was not particularly Keynesian in its approach to spending. Instead, it was Roosevelt's hostility toward private industry that delayed America's recovery for so long.