False Hope for 1937 (Pathfinder Magazine, 1937)
Perhaps it was the practice of magazine editors during the Great Depression to instruct their reporters to find hope where none existed; that must have been the case for this article. The unnamed journalist who wrote this slender column reported on a few rare cases involving real jobs with real salaries being offered to recent graduates; the reporter wished to believe that this was a sign that the end was nigh – but these few jobs were flukes. The author saw economic growth where there really wasn’t any at all, however he certainly made the case for its existence. The title link posted above leads to a passage from FDR’s Folly: How Roosevelt and His New Deal Prolonged the Great Depression by Jim Powell that explains the true situation that existed in 1937, when unemployment stood at 20 percent by Summer.
False Hope for 1937 (Pathfinder Magazine, 1937) Read More »