1929: Sorkin Rounds Up the Usual Suspects
Coolidge Review,
by
Amity Shlaes
Original Article
Posted By: Christopher L,
12/6/2025 4:07:49 PM
Back in 1999, William F. Buckley Jr. interviewed the economist John Kenneth Galbraith on Firing Line. The gents’ topic was historic figures. Around twenty-four minutes in, Buckley got to President Franklin Roosevelt. Galbraith, then ninety, turned nostalgic.
“Of my generation, there was no figure like Franklin Delano Roosevelt. And I still wake up in the morning and say, ‘Well, Galbraith, you’re still a New Dealer.’ ”
Certainly. But do the rest of us have to be?
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Reply 1 - Posted by:
voxpopuli 12/6/2025 4:21:15 PM (No. 2038257)
"Red" Andy Sorkin of CNBC
i stopped reading at 1929: Sorkin
6 people like this.
Reply 2 - Posted by:
DVC 12/6/2025 5:03:52 PM (No. 2038262)
FDB absolutely CREATED the Great Depression by preventing the free market from quickly correcting the crash of 1929. Roosevelt was an absolutely innumerate fool when it came to business, money and the economy. He started off wealthy and managed to start and destroy several businesses because of his total lack of a basic grasp of numbers and economics.
Galbraith was an overeducated fool. Listen to what Milton Friedman said and wrote But always know that Galbraith was full of beans, never right, always wrong.
12 people like this.
Reply 3 - Posted by:
DVC 12/6/2025 5:04:51 PM (No. 2038264)
Rats....I meant FDR.....in the comment above.
6 people like this.
Reply 4 - Posted by:
Sunhan65 12/6/2025 5:30:45 PM (No. 2038269)
This is weird. I literally just finished Sorkin's 1929 as an Audible book. Then I revisited Amity Schlaes' The Forgotten Man right after. I enjoyed both.
As Professor Schlaes says in her review, if you look past the conventional liberal "wisdom" that Sorkin recycles, 1929 is a compelling historical narrative about the people most directly involved in the Crash. Schlaes is likewise at her best in Forgotten Man when describing Depression-era figures most of us didn't know about: Father Divine, the Schlecter brothers, and the two people who founded Alcoholics Anonymous.
I'm glad she reviewed Sorkin's 1929 and thank OP for posting.
3 people like this.
Reply 5 - Posted by:
Vaquero45 12/6/2025 5:35:36 PM (No. 2038272)
Amity Shlaes can write 5,000 words about the Depression and thoroughly deflate any idiot she disagrees with. Her book “The Forgotten Man” is the last word on that whole era.
8 people like this.
Reply 6 - Posted by:
bpl40 12/6/2025 6:31:45 PM (No. 2038285)
In the immortal words of Archie Bunker “This country was ruined by Franklin Delano Roosevelt”.
9 people like this.
Reply 7 - Posted by:
franco 12/6/2025 7:31:44 PM (No. 2038303)
Many years ago I listened regularly to the KSFO (San Francisco) morning show, hosted by conservative talkers Melanie Morgan and (the late) Lee Rodgers. Ms. Schlaes was a frequent contributing guest to the show. Ms. Schlaes is reputed to have an IQ in the 180 range, but she also exuded inimitable charm in those radio appearances, and it shows in her analysis here, where she decimates the limited-IQ Sorkin and his "thoroughly researched"... "work".
9 people like this.
Reply 8 - Posted by:
Timber Queen 12/6/2025 11:04:52 PM (No. 2038339)
#7 - I also listened to Melanie and Lee, on my morning commute for seven years. Great patriots.
Sorkin is unreadable.
2 people like this.
Reply 9 - Posted by:
JimBob 12/7/2025 12:19:31 AM (No. 2038350)
My Dad, who grew up in Stevens Point, WI during the Depression and volunteered for the Marines the day after Pearl Harbor, used to tell me that it was WWII that pulled us out of the Depression.
Later, I was told by someone who had more economic knowledge than me, that the Depression was really caused by the banking crash that followed the stock market crash, my understanding is that the people in charge of the banks tightened the credit loan requirements, a lot of -small banks and businesses- could not meet the new terms, were unable to borrow money, and went bankrupt.
Someone who really knows the score chip in and correct me if I'm wrong.
3 people like this.
Reply 10 - Posted by:
DVC 12/7/2025 2:40:54 AM (No. 2038363)
Re #9, the crash would have worked thru the system in a couple of years if FDR hadn't jumped in and destabilized the free market. Forcing higher labor costs by government action meant that companies which were struggling and workers who wanted jobs couldn't get together. The companies couldn't afford the union high wages due to being nearly out of business.
The National Recovery Act crippled the economy for years, in the name of "saving the economy'.
"Everything FDR did was exactly opposite of what was needed, continued to prolong the depression.
5 people like this.
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