PRESIDENT FRANKLIN ROOSEVELT by Peter F. Drucker

“Franklin D. Roosevelt was bitterly attacked for his switch from conservative candidate in 1932 to radical president in 1933. But it wasn’t Roosevelt who changed.

The sudden economic collapse which occurred between the summer of 1932 and the spring of 1933 change the specifications. A policy appropriate to the goal of national economic recovery—which a conservative economic policy might have been—was no longer appropriate when, with the Bank Holiday, the goal had to become political and social cohesion.

When the boundary conditions changed, Roosevelt immediately substituted a political objective (reform) for his former economic one (recovery).”

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PRESIDENT FRANKLIN ROOSEVELT by Peter F. Drucker

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