Go See Cal

Coolidge was the right kind of leader

I have to admit, the more I learn about Calvin Coolidge, the more I like him. As I pointed out before, he was the first modern president who didn’t try to “fix” things only to make them worse. Under his and Harding’s leadership, the 1920-1921 recession lasted only 18 months even though the market crashed (down 33%) and unemployment was almost 12%. They gathered their resources and did the only reasonable thing a leader in such circumstances could do: nothing.

Cal was also a dynamic leader of his time. He was in favor of women’s suffrage, supported rights for African-Americans, didn’t think the League of Nations was a great idea, and understood the proper role of federalism. He was also a technological leader, being the first president to address the nation by radio, and the first president to appear in a talkie–the one you are about to see. More important, he was an ardent supporter of free market capitalism and under his administration the nation prospered.

You will see his style of leadership here in his brilliant speech on the role of government. Please listen closely because it’s often easy to be carried away by the spellbinding rhetoric of this great man.

Thanks to Bob Murphy of the Mises Institute and Free Advice.