Critics of Roosevelt’s New Deal often liken it to fascism, writes David Gordon. Roosevelt’s numerous defenders dismiss this charge as reactionary propaganda; but as Wolfgang Schivelbusch makes clear in Three New Deals, it is perfectly true. Moreover, it was recognized to be true during the 1930s, by the New Deal’s supporters as well as its opponents. The Nazi press enthusiastically hailed the early New Deal measures. Mussolini, who did not allow his work as dictator to interrupt his prolific journalism, wrote a glowing review of Roosevelt’s Looking Forward.

[This article is also available for podcast or download, read by Jeff Riggenbach.]

It has been said that the time of universal scholars ended long ago. There can be no more brilliant minds that develop vast systems of thought and produce top quality work across a range of disciplines. For such thinkers, we are told, there is neither supply nor demand.

Note: A rough 2003 draft of this article was mistakenly published in Reason Papers no. 28 (Spring 2006) instead of the finished 2006 version. This is the correct, final version.

Chris Coyne draws our attention to this nice story in the Financial Times.

Manuel Lora’s recent article highlighted the importance of economic education. I’ve long believed the single most important thing we can do is to foster liberty is to promote economic literacy. (I made this point in Why are Austrians Libertarians? and in this interview by Alberto Mingardi.) Why are economic education and economic literacy so important?

Fidel Castro, the ruthless dictator of Cuba, was recently ill with severe internal bleeding, bringing the media’s spotlight on the island. Castro’s physicians managed to bring the him back to good health but doubts have arisen as to how much longer the dictator will be in power. Raul Castro, Fidel’s brother and successor to the “presidency,” has openly admitted that he desires to see a more open economy in Cuba. Raul has showed much sympathy towards the Chinese economy and their mixture of communist rule with quasi-free markets.

This excellent roundup of American politics since 9/11 chronicles the biggest powergrab since the Great Depression. The final paragraph reminds us just how important the “history books” of the future are to current politicians.