Progressives’ retrospective aspiration for a new New Deal is shared by “national conservatives.” They, enthusiastic about the current administration, also believe government should comprehensively intervene in the economy, politically allocating capital (and therefore opportunity) to improve on the rationality of free markets.

But economist George Selgin’s latest book refutes progressives’ triumphalist nostalgia for the New Deal. It thereby demonstrates that “national conservatives” are oblivious regarding the cautionary lessons of Franklin Roosevelt’s experience. These kindred spirits on the left and right should read “False Dawn: The New Deal and the Promise of Recovery, 1933-1947.”

George Will’s email address is georgewill@washpost.com.

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