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Type of bind: Paperback
Dewey Decimal Number: 973.916
EAN num: 9780060936426
ISBN number: 0060936428
Label: Harper Perennial
Manufacturer: Harper Perennial
Quantity: 1
Page Count: 512
Printing Date: June 01, 2008
Publishing house: Harper Perennial
Release Date: May 27, 2008
Sale Popularity Level: 30
Studio: Harper Perennial
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Editor's Notes and Comments:
Product Description:
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.
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Rated by buyers 
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I hold degrees in History, Political Science and Economics. As a consequence I was motivated to buy this book. BIG mistake. After a few chapters I remembered where I had encountered the author before. She is an extremely conservative economist, (at least an economic theorist) who has said such things as, "the greatest acheivement of the Bush presidency are his tax cuts for the wealthy". She also has expressed the opinion that if the tax lid were removed from Social Security the wealthy would quit working. Just in case you are in doubt about the tax cuts, Neither the Reagan group who re-started trickle down econ or George Bush really believed that it would help the whole economy. Do yourself a favor and buy a less doctrinaire book.
Rated by buyers -
The most inane endeavor to explain economic crises in America. With experts on the history of financial crises in America like this it is no wonder that we are experiencing another meltdown.
Rated by buyers 
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The author does a great job expounding her theory that World War II ended the great depression and FDR's New Deal only helped prolong it. With plenty of examples of flamboyant socialist policies, overzealous prosecutions, and the unconstitutional court packing plan, she certainly makes a good case. This work, however, is pretty dense and can be hard to get through at times. This book would make an excellent source for an Economics class, but could be a little much for the average reader looking for an overview of the time period.
Rated by buyers -
This book has a great title and seems like it should be in-depth history. Unfortunately it's a barrage of names that seems to never complete a thought. I couldn't figure out what the author was getting at in most chapters. I wanted to read about cause and effect when it comes to the depression, the stock market, inflation and deflation, FDR's programs, trade, and common people's decisions and lives. Instead I got the attendance at a zillion meetings and the destinations of politicians trips.
Here's a sample sentence: "On March 11 came news that Homer Cummings, Roosevelt's attorney general, was preparing a tax suit against Mellon, as well as against T.S. Lamont of J.P. Morgan and Thomas Sidlo, a law partner of the reformer Newton Baker of Cleveland." Try reading an entire book like that.
So even though I gave it three stars (some people enjoy thick stuff like this) if you're an average inquisitive reader I'd say save your money.
Rated by buyers -
I was interested in reading another history of the Great Depression, having only read a single book on the subject, John Kenneth Galbraith's, 'The Great Crash: 1929'. Amity Shlaes' book was highly recommended by many authoritative sources as well-suited to the non-expert in economics who is interested in understanding the conditions which lead to the Depression, those factors that perpetuated it and, more particularly, what steps, if any, might be taken to avoid a repetition of those sorrowful times.
As the author of a general-interest book, Shlaes tries to hold the reader's attention by abundant use of anecdotes to illustrate what otherwise might appear as arcane economic concepts. This yields a somewhat encyclopaedic survey of the times, but also familiarizes the reader with many important historical personalities that are currently obscure, e.g. Rex Tugwell, Raymond Moley, Adolf Berle and Felix Frankfurter.
As I understood the book, the major points were: 1. FDR's penchant for experimentation, 2. His susceptibility to influence from his cohort of advisors the so-called 'Brain Trust', a frequently mutating group of intellectuals, recruited on the basis of their appeal to Roosevelt's current fancy and, most importantly, 3. That New Deal policies needlessly prolonged the Depression, simultaneously creating 'identity' and 'interest' politics. A corollary of New Deal policies was the creation of indebted constituencies: this resulted from developing conditions tantamount to 'class warfare' and by putting more and more people on 'the dole'.
Shlaes, however, is candid enough to point out FDR's shrewd abilities as a political thinker, citing, for example, his swift reversal of course by adoption of the formerly vilified scions of 'big business' when he realized the liklihood of an impending European war and the need for support from this quarter. Another interesting and politically adroit move was FDR's appointment of Joe Kennedy as very first head of the Securities and Exchange Commission: who better to monitor fraudulent securities trading activity than an insider and master of the method?
John Maynard Keynes and his theories, adapted to various New Deal programs by FDR, receives a few pointed rebukes. The most telling point in favor of Shlaes' perspective came in the form of an endorsement by the current head of the Federal Reserve Board, Ben Bernanke. In November, 2002, at a ceremony honoring Milton Friedman's ninetieth birthday, he was quoted as remarking, 'I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.' Let's hope he's right. But, What better vindication could Shlaes' arguments wish for?
In summary, an interesting book, well worth reading.
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