The Forgotten Man: A New History of the Great Depression

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 establish the steadfast character we recognize as American today. The narrative examines how regulatory experiments hindered private enterprise, slowing recovery. From Tennessee Valley dams to courtroom fights over poultry codes, the volume details the disruption of markets. Federal agencies altered pricing rules while employers hesitated to commit capital. Shlaes illuminates the cost of intervention, setting Washington's experiments against the trials of taxpayers.

• Herbert Hoover: From coordinating the 1927 Mississippi flood response to enacting the Smoot-Hawley tariff, the engineer president's interventions paved the way for unprecedented federal control.
• The Brain Trust: Academic advisers such as Rexford Tugwell and Adolf Berle designed early relief experiments, drawing inspiration from collectivist models abroad.
• Bank Failures: Desperate communities weathered deflation and monetary collapse, creating local scrip systems in Salt Lake City when circulating currency dried up.
• Court Packing: Fierce constitutional clashes led Franklin Roosevelt to challenge the judiciary after the Supreme Court dismantled signature recovery programs.
• Also by This Author: Great Society.