Market Outcome of Liberal Ideas

Today Christine Todd Whitman reflects on Specter's defection from the GOP, and notes with sadness and perhaps a bit of fear that "...no president has had such power since 1937, when large Democratic majorities in Congress gave President Franklin Roosevelt tremendous leverage."

So I asked, is that a bad thing?

Measure on Real GDP per Capita, Roosevelt and his liberal majorities teed up the largest burst of unchecked prosperity in human history. Here are the facts. First, in the 40 years before and after 1937...


...and then the 70 years before and after 1937.



* Real GDP accounts for inflation.