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from Section A: Economics
Published online by Cambridge University Press: 13 January 2022
The New Deal had no single theory of economics. FDR and his advisers signed on to a number of sometimes inconsistent theories accounting for the Depression and promoting recovery. Some supported government spending to boost supply, some endorsed producer cartels, some opposed the growth of chain stores, and others had other favorite economic projects. The Court after 1937 was skeptical about the value of limiting chain stores, though it upheld some limits on their expansion. Otherwise it basically endorsed whatever econmic theory Congress and the states embodied in legislation, and allowed the administration to pursue relatively aggressive antitrust actions, inclduing some that challenged forms of producer cooperation that the Hoover and Roosevelt administrations seemingly had encouraged.
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