Eric Rauchway

The Great Depression forced the United States to adopt policies at odds with its political traditions. This title looks at the background to the Depression, its social impact, and at the various governmental attempts to deal with the crisis.

Nineteenth-century globalization made America exceptional. On the back of European money and immigration, America became an empire with considerable skill at conquest but little experience administering other people's, or its own, affairs, which it preferred to leave to the energies of private enterprise. The nation's resulting state institutions and traditions left America immune to the trends of national development and ever after unable to persuade...

"With The Money Makers, Eric Rauchway tells the absorbing story of how FDR and his advisors pulled the levers of monetary policy to save the domestic economy and propel the United States to unprecedented prosperity and superpower status. Drawing on the ideas of the brilliant British economist John Maynard Keynes, among others, Roosevelt created the conditions for recovery from the Great Depression, deploying economic policy to fight the biggest threat...