FDR's Policies Prolonged Depression by 7 Years, UCLA Economists Calculate / UCLA Newsroom
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx?RelNum=5409

"As we've seen in the past several years, salaries and prices fall when unemployment is high. By artificially inflating both, the New Deal policies short-circuited the market's self-correcting forces."

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

Price, wage-fixing, and collusion blamed for length of 1930's Depression.

How the New Deal actually corrected the economy and the myths used to argue that it did not.

Addresses the pervasive myth that FDR failed. That is, it's a "myth" for some definitions of "myth." As always, YMMV.

At such a moment, it is imperative to expose a dangerous popular myth regarding the efficacy of President Roosevelt’s actions: that it was not the programs of the New Deal, but only the placing of the nation on a wartime footing years later, that restored the health of the nation’s economy. This belief, though widely held, cannot stand up to even the most basic economic analysis. Yet the mainstream corporate media, which abound with anti-government ideology, seek to reinforce this myth. Just this past Sunday, The Washington Post featured on Page One of its Outlook section an article by Amity Shlaes headlined “FDR Was a Great Leader, But His Economic Plan Isn’t One to Follow.” Underscoring Shlaes’s made-up claims, the Post ran the continuation of her piece under the title: “FDR’s Plan Failed to Spark Real Growth.”