Book reviews, when done well, can provide useful history lessons in and of themselves.
“Mr. Coolidge’s hallmark was distrust of government. He saw it as an entity that uses ‘despotic exactions’ (taxes) that sap individual initiative and prosperity across the board …” according to publication.
“Coolidge learned at first towards the surging progressive movement, which supported state intervention and union involvement in the economy,” the review adds. “But his views shifted when he saw what those ideas meant in practice.”
The Economist is not noted for being a publication of a particularly libertarian bent by any means, but it recognizes Coolidge’s achievements during his five-and-a-half years as president, during which American debt fell by one-third, the tax rate by half and unemployment dropped precipitously. It’s unfortunate that more Americans haven’t taken note of Coolidge’s accomplishments.
While no means perfect, Coolidge offers an interesting counterbalance to FDR and his New Deal approach.