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May 18, 2013
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Amity Shlaes

R. Emmett Tyrrell Jr. Column: Amity Shlaes Corrects Some Common Misperceptions About 'Silent Cal' Coolidge

By R. Emmett Tyrre... | February 21, 2013 | 09:15

A  A

I am indebted to Amity Shlaes for gently correcting a joke of mine that dates back to July 8, 1972. On that date in the New York Times, I joshed that President Calvin Coolidge "probably spent more time napping than any president in the nation's history" and therefore was a successful president. My joke was a play on an earlier joke by H. L. Mencken, and now Shlaes has corrected both of us. She has written a very impressive biography titled simply "Coolidge," wherein she never mentions Cal's naps but rather what made him the most successful president of the 1920s. He reversed the economic insolvency of President Woodrow Wilson, and set the economy on the road to growth, a road made rocky by Cal's successor, President Herbert Hoover, and rockier still by Hoover's successor, Franklin Roosevelt.

Though one would not know it today, Coolidge was the most successful president of the 1920s. Vice President Coolidge came to the presidency on the death of President Warren G. Harding in August 1923 and won the presidency outright in 1924 with 54 percent of the vote over the Democrat, John W. Davis, who had 28.8 percent of the vote, and the Progressive, Robert M. La Follette, who won just 16.6 percent of the vote. Moreover, Coolidge had won every race he ever contested from his first run for city councilman in 1898 to the governorship of Massachusetts in 1918, usually by astoundingly large margins. His combination of civility, effectiveness, standing by the law and, as president, tax cuts, budget balancing, and growth, was wildly popular with American voters, as was his singular asset, taciturnity.

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WaPo Op-Ed Warns Against 'Foolish Five' Economic Policies

By Julia A. Seymour | August 18, 2008 | 16:29

A  A

Amity Shlaes, a senior fellow at the Council on Foreign Relations, penned an August 18 Washington Post column examining five of the government's Depression-era mistakes that made financial matters worse. Shlaes, author of "The Forgotten Man: A New History of the Great Depression" cautioned today's lawmakers against following in those footsteps.

According to Shlaes, "perverse monetary policy was the greatest cause of the Great Depression." But there were five other mistakes in the 1930s that some politicians today seem ready to repeat. 

  • 1. Giving in to protectionism
  • 2. Blaming the messenger
  • 3. Increasing taxes in a downturn
  • 4. Assuming bigger government will bring back growth
  • 5. Ignoring the cost of inconsistency
  • Julia A. Seymour's blog
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