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The Forgotten Man
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The Forgotten Man (2007) (edit title/settings)

A New History of the Great Depression

by Amity Shlaes (Author) (edit contributors)

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Description edit see section history

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... read more

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Quotes edit see section history

  • “Deflation taxes risk takers and punishes leveragers”
  • “Invest in the private sector, do not intervene too much, wait silently, and the returns would be all the greater”
  • “Power resources generally were too important to stay in the private sector”
  • “That is, waste neither time nor money, but make the best use of both”
  • “We are beginning to wipe out the line that divides the practical from the ideal; and in so doing we are fashioning an instrument of unimagined power for the establishment of a morally better world”
  • Popular Highlights from Kindle Customers
  • “As soon as A observes something which seems to him to be wrong, from which X is suffering, A talks it over with B, and A and B then propose to get a law passed to remedy the evil and help X. Their law always proposes to determine…what A, B, and C shall do for X.” But what about C? There was nothing wrong with A and B helping X. What was wrong was the law, and the indenturing of C to the cause. C was the forgotten man, the man who paid, “the man who never is thought of.”
    Highlighted by 282 Kindle customers
  • “Any man of energy and initiative in this country can get what he wants out of life. But when initiative is crippled by legislation or by a tax system which denies him the right to receive a reasonable share of his earnings, then he will no longer exert himself and the country will be deprived of the energy on which its continued greatness depends.”
    Highlighted by 200 Kindle customers
  • To justify giving to one forgotten man, the administration found, it had to make a scapegoat of another. Businessmen and businesses were the targets.
    Highlighted by 156 Kindle customers
  • And before a year would pass, Hoover had done damage that did matter on three fronts: by intervening in business, by signing into law a destructive tariff, and by assailing the stock market.
    Highlighted by 150 Kindle customers
  • Whereas C had been Sumner’s forgotten man, the New Deal made X the forgotten man—the poor man, the old man, labor, or any other recipient of government help.
    Highlighted by 149 Kindle customers
  • “It is a mistake to think businessmen are more immoral than politicians,” Keynes wrote.
    Highlighted by 144 Kindle customers
  • The big question about the American depression is not whether war with Germany and Japan ended it. It is why the Depression lasted until that war. From 1929 to 1940, from Hoover to Roosevelt, government intervention helped to make the Depression Great.
    Highlighted by 122 Kindle customers
  • This routine of targeting class enemies in the name of reform would become Roosevelt’s hallmark.
    Highlighted by 104 Kindle customers
  • The supposedly cold Coolidge heartily approved of Mellon’s tax policy, saying that “the wise and correct course to follow in taxation and all other economic legislation is not to destroy those who have already secured success but to create conditions under which every one will have a better chance to be successful.”
    Highlighted by 101 Kindle customers
  • But now, building on the ideas of his old professor Frederick Jackson Turner, Roosevelt reminded his listeners of the importance of the fact that “our last frontier” had long since been reached. It was time for the “princes of property,” the wealthy, to share their resources. Growth would not provide for the poor; only redistribution could.
    Highlighted by 68 Kindle customers
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First Sentence edit see section history

Floods change the course of history, and the Flood of 1927 was no exception.

Table of Contents edit see section history

Cast of Characters
Timeline
Introduction
1 The Beneficent Hand
2 The Junket
3 The Accident
4 The Hour of the Vallar
5 The Experimenter
6 A River Utopia
7 A Year of Prosecutions
8 The Chicken Versus the Eagle
9 Roosevelt's Wager
10 Mellon's Gift
11 Roosevelt's Revolution
12 The Man in the Brooks Brothers Shirt
13 Black Tuesday, Again
14 "Brace Up, America"
15 Wilie's Wager
Coda
Afterword to the Paperwork Edition
Acknowledgments
Bibliographic Notes
Selected Bibliography
Index

Authors & Contributors edit see section history

  1. Amity Shlaes (Author)

First Edition edit see section history

Original Language: English
Publisher: HarperCollinsPublishers
Country: USA
Publication Date: 2007
ISBN: 0066211700
Page Count: 464

Classification edit see section history

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