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The Presidency of Barack Obama, a New New Deal in U.S. Economic Policy?

Author

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  • Bradley Smith

    (UPN - Université Paris Nanterre, CREA (EA 370) - Centre de Recherches Anglophones - UPN - Université Paris Nanterre, UPN LCE - Université Paris Nanterre - UFR Langues et cultures étrangères - UPN - Université Paris Nanterre)

Abstract

It is common to compare the Great Recession of 2007-2009 and the election of Barack Obama to the Great Depression of the 1930s and the election of Franklin D. Roosevelt. This chapter tests this comparison on three levels: first, by situating the Obama Presidency within the history of turning points in U.S. economic policy since President Roosevelt's New Deal; second, by analyzing a selection of major economic policies of the Obama Administration; and third, by measuring the extent to which these policies broke away from the neoliberal economic paradigm that had dominated U.S. economic policy since the 1980s. The chapter concludes that despite the Obama Administration's rhetoric calling for change, the economic policies it implemented were more in line with those of the Third-Way Democrats of the 1990s than those of the New Deal Democrats of the mid-twentieth century. The Obama Presidency therefore did not represent a turning point as extensive as that of the New Deal.

Suggested Citation

  • Bradley Smith, 2019. "The Presidency of Barack Obama, a New New Deal in U.S. Economic Policy?," Post-Print hal-04362469, HAL.
    • Handle: RePEc:hal:journl:hal-04362469
    as

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