Churchill: A “Foolish Moth”, and FDR’s Raw Deal
This week we return to the era of the greatest generation taking a critical look at two of its towering icons, Franklin Delano Roosevelt and Winston Churchill. America, the lumbering giant, remained mired in the Great Depression right up to the eve of war despite, or perhaps even because, of FDR’s economic interventions. Meanwhile across the pond, the fate of Western Civilization fell into the hands of an extravagant risk-taker who would carry Great Britain through its finest hour.
My first guest is Burt Folsom, Professor at Hillsdale College and author of “New Deal or Raw Deal? How FDR’s Economic Legacy Has Damaged America”. In his book, Burt chronicles how President Franklin Delano Roosevelt’s political ambitions and personal agenda doubled the national debt and left the nation mired in economic stagnation and wasteful make-work employment programs. This came in stark contrast to both his campaign promises and popular historical myth.
The second half of the show brings us the author of “No More Champagne: Churchill and His Money,” David Lough. David paints a vivid portrait of Winston Churchill as a man unable to resist risk with a taste for life's most extravagant amenities. The British Bulldog lived on the brink of insolvency, only being saved from financial ruin by his brilliance as a writer. You’ve probably never heard about this aspect of Winston Churchill’s life before, a complex tale that could only be unraveled by this former wealth manager.
As always you can hear from both of our amazing guests this week by listening to the full show as-aired on iTunes, or you can check out the individual podcasts hosted on YouTube and SoundCloud. Make sure to check back next week for another episode of RealClear Radio Hour.
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