A Grande Depressão deu-se por causa do New Deal

E não o contrário.

2INFLATION OR DEFLATION ?", Hans F. Sennholz

" It did not give rise to the Great Depression, which was the tragic handiwork of the Hoover-Roosevelt New Deals. In June 1930 the Republican Congress passed the Smoot-Hawley Tariff Act which practically closed U.S. borders to foreign goods and led to foreign borders being closed to American goods. Rapidly growing trade restrictions, including tariffs, quotas, foreign trade controls, and other devices, soon genera ed a world-wide depression. Moreover, in the dark hours of 1932, the Hoover administration struck another blow – it doubled the income tax. The Revenue Act ordered the sharpest increase in American history. When state and local governments faced shrinking tax collections, they, too, joined the Hoover team and imposed new levies and raised the rates of old.

Marching in President Hoover’s footsteps, President Roosevelt’s exactions and demands on business were unrelenting. Revenue legislators in 1933, 1934, and 1935 again raised tax rates on higher incomes. Estate taxes were raised to the highest levels in the world. The Farm Relief and Inflation Act of 1933 sought to raise farm income by reducing output. Crops were burned in the fields, livestock destroyed, and the expenses were covered by a new “processing tax.”

In 1935, Congress passed the Wagner Act, taking labor out of the courts of law and lodging it in a newly created federal agency, the National Labor Relations Board. Soon, labor unions engaged in numerous boycotts, strikes, seizures of plants, and outright violence which depressed business even further. With unemployment above the 10 million mark, the American economy just would not rise from the depths of depression into which it was cast by the Hoover and Roosevelt Deals.

(...)

And they pass over the peerless position of the U.S. dollar as the world’s primary reserve currency, which allows the Federal Reserve System to inundate the world with U.S. dollars – until the principal creditors, China and Japan, call a halt to the delusion. At that time, the U.S. government may contrive a Bush or Kerry Deal, similar to the Hoover-Roosevelt Deals. We are bracing for fervent controls and dreary stagflation to come."