Crump, the white Democratic Party boss of Memphis, was cozy with FDR. J.B. Martin, a black business owner and local Republican Chairman, organized a multiracial rally for Roosevelt’s opponent Wendell Willkie. Crump fumed that “Negroes might as well learn their places,” and used city police to retaliate against Martin. Guess how FDR’s Justice Department responded to Martin’s plea for legal help... READ MORE »

The New Deal’s War on the Bill of Rights The Untold Story of FDR’s Concentration Camps, Censorship, and Mass Surveillance By David T. Beito

How will the central bank respond to instability in markets caused by global turmoil? The Fed might take a page from its emergency actions during the 2008 financial crisis and Covid—but such aggressive moves have serious consequences. READ MORE »

Crisis and Credit Allocation The Effect of Ideology on Monetary Policyduring the Great Depression and the Great Recession The Independent Review, Spring 2023

Autumn heralds the arrival of pumpkin spice and flannel shirts—and the start of the flu season. But the FDA is a about to make that a whole lot worse. Which of your go-to medicines are about to get pulled? READ MORE »
 

The Fed’s huge inflationary boost to the money supply, stemming from pandemic stimulus, set the stage for what is now a sustained decline in the money supply. As a result, the economy is in real danger. It’s hard to ignore the disturbing parallels with the 1987 stock market debacle. READ MORE »

The Midas Paradox Financial Markets, Government Policy Shocks, and the Great Depression By Scott Sumner