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Rating: 
Summary: new look at country's worst crisis
Review: Based on new theories, Smiley has re-examined and re-assessed the forces that led to and prolonged the Great Depression. In clear non-technical prose, he shows what happened and why.This short book (163 pages plus sources and index) is divided into five chapters. Chapter 1 gives a brief overview of how the worldwide depression began and how it created a domino effect throughout Europe and the U.S. Nothing new here-- in fact, this is basic stuff any high schooler should know. Chapter 2 is a more detailed examination of the economic crisis and the forces which led to it. Smiley explains the situation in basic terms that anyone can understand, allowing us to see the tragedy unfolding step by step. Chapters 3 and 4 show how President Roosevelt (who had little knowledge or experience of economics) attempted to pull the country out of this deep economic slump. Though some programs were successful, some were not, and only serve to create a depression within a depression in the mid-30s. Chapter 5 examines the legacy of the governmental response, and how economic policies initiated during this period has affected this country for decades afterward, and how certain government programs still exist long after their usefulness has passed. An examination of post-war analysis shows how Keynesian economic theory and government studies have misinterpreted the factors which brought this country back to recovery. He also examines the question of whether such an event can happen again, concluding that-- based on subsequent economic downturns-- it probably won't, though it can happen again should future leaders ignore the warning signs and lessons of the past. A fascinating and rewarding book, even for those who have little or no knowledge of economics.
Rating:
Summary: new look at country's worst crisis
Review: Based on new theories, Smiley has re-examined and re-assessed the forces that led to and prolonged the Great Depression. In clear non-technical prose, he shows what happened and why. This short book (163 pages plus sources and index) is divided into five chapters. Chapter 1 gives a brief overview of how the worldwide depression began and how it created a domino effect throughout Europe and the U.S. Nothing new here-- in fact, this is basic stuff any high schooler should know. Chapter 2 is a more detailed examination of the economic crisis and the forces which led to it. Smiley explains the situation in basic terms that anyone can understand, allowing us to see the tragedy unfolding step by step. Chapters 3 and 4 show how President Roosevelt (who had little knowledge or experience of economics) attempted to pull the country out of this deep economic slump. Though some programs were successful, some were not, and only serve to create a depression within a depression in the mid-30s. Chapter 5 examines the legacy of the governmental response, and how economic policies initiated during this period has affected this country for decades afterward, and how certain government programs still exist long after their usefulness has passed. An examination of post-war analysis shows how Keynesian economic theory and government studies have misinterpreted the factors which brought this country back to recovery. He also examines the question of whether such an event can happen again, concluding that-- based on subsequent economic downturns-- it probably won't, though it can happen again should future leaders ignore the warning signs and lessons of the past. A fascinating and rewarding book, even for those who have little or no knowledge of economics.
Rating:
Summary: Draws upon recent technical analysis
Review: Gene Smiley's Rethinking The Great Depression blends history and economics in a survey which draws upon recent technical analysis to consider new ideas about the roots of the Depression. The efforts of the New Deal to combat the crisis, the underlying foundations of the Depression, and misguided monetary policies which prolonged it accompany refutes to popular beliefs - such as the positive view of World War II as a key to ending the crisis.
Rating:
Summary: The Great Depression Reassessed From a Free-Market Viewpoint
Review: Gene Smiley, a protege of the free-market-oriented Austrian and Chicago schools of economics, has written a concise and readable book that challenges some long-held beliefs about the Great Depression. Smiley presents a convincing case that the calamity was brought on, not, as is widely believed, by flaws in the free enterprise system, but by government policies, in particular, attempts to manipulate the gold standard. He then shows how the well-intentioned but wrongheaded interventionist policies pursued by the Herbert Hoover and Franklin D. Roosevelt administrations to combat the Depression actually prolonged and deepened it. Smiley also presents evidence that the "boom" of the World War II years was actually a bust, and that true prosperity only returned when Washington turned away from New Dealism following the election of the Eightieth Congress in 1946. His insightful discussion as to whether or not another Great Depression could occur should be of particular interest to contemporary readers. Although written for a general audience, Smiley's book is well researched and includes an extensive bibliography. It will make a useful addition to the bookshelf of anyone interested in the Great Depression, American history, or macroeconomics.
Rating: 
Summary: Eye opening
Review: Smiley discusses the cause the the Great Depression, and the effects of the New Deal in prolonging it. He summarizes the findings of the latest academeic research, over the past few decades. He does this well and quite clearly, in a non-polemical way. No math is involved.
Rating:
Summary: Concise, well orginized, and a fantastic read.
Review: This book is only 175 pages, but dense in material. Smiley argues that FDR's New Deal, actually prolonged the Great Depression, and created a "depression within a depression." FDR, and his advisors, self nicknamed "the brains trust", put their New Deal emphasis in stiffling the free market forces, that were actually recovering the American economy from the world depression, of the early 1900's. Also, Smiley sheds light on the false notion that war is good for the economy. This book is written in such an understandable and concise style, that even the bibliography reads like a integrated chapter, where Smiley explains what he used within each reference. I would recommend this book as a first read, or primer, for the Great Depression. I really enjoyed it.
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