[quote]Sloth wrote:
100meters wrote:
Sloth wrote:
How did the New Deal work?
Lowered Unemployment
Raised GDP
Increased Productivity (least until FDR tried to balance budget in '37-'38)
Clearly FDR could have gone bigger and got better results, but to say it didn’t work is just silly.
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx[/quote]
Cole and Ohnian (the authors of both articles) oddly focus on hours worked rather than your more typical measures: lower unemployment, and massively increased productivity.
Not everything was perfect about the new deal (NIRA) but it seems odd focusing on the fact that people no longer worked 50-60 hours a week, working 6 days a week.
But yes, by 1937 or so, people are working less, because you know they demanded it.
After WWII people are working even less than in 1937 (hours), and today we work less than that. So 1900-2000 the chart for avg hours worked is in steady decline.