Economic Crisis and Political Change: A New New Deal?

Economic Crisis and Political Change: A New New Deal?

A decisive election, bringing a major partisan shift in government, inevitably gives rise to debate about the historical significance of the change. Needless to say, this debate as applied to the 2008 presidential contest has centered on the economy and economic policy—this was the most salient campaign issue, and the Great Recession and the continuing impacts of the financial crisis crowded most other issues off the agenda during President Obama's first two years. The resemblance of economic conditions to the 1930s is unmistakable; it is little wonder that the debate has pivoted around whether Obama's economic program will measure up to Roosevelt's New Deal. But could it? Or ...