Today on Uncommon Knowledge, economist Thomas Sowell, author of The Housing Boom and Bust. Sowell explains why New Deal economics flopped eight decades ago and will fail again today.
PETER ROBINSON: What is it about the New Deal that permits people to cite it as a model with a straight face eight decades after it was enacted?
THOMAS SOWELL: Because of the widespread belief that it was the New Deal which saved the country and got us out of the depression. What actually got us out of the depression was the Second World War, and it did so by ending the New Deal.