Mythology Breeds Repetitive Errors

The opinion piece titled Cheering for Obama Stimulus Buys Into 1930s Myth, which was written by Amity Shlaes, speaks to what can happen when history becomes shrouded in myth rather than portrayed realistically. Shlaes notes parallels between today's circimstances and those that existed during FDR's presidency but the parallels are not the ones Obama supporters are likely to focus on. The New Deal did not bring on a speedy recovery. The full recovery awaited World War II and its aftermath. This article quote was particularly revealing of the historic reality in my view:

Nor did FDR’s maneuvering cause a speedy bounce-back. The Dow waited until the mid 1950s to regain its 1929 peak. You can’t imagine Obama suggesting that his New Deal would be successful if it got the Dow back to its autumn 2007 high in 2030.

If we had to wait until 2030 before the Dow fully recovered how many people would label current strategies a good approach?

I also found informative the company Commonwealth & Southern's intent to fulfill lighting needs in the South. Credit for that went to the government enterprise known as the Tennessee Valley Authority whose accomplishments came with taxpayer funding and at the expense of businessmen. So the question is: could and would the same outcome have been achieved through private companies? That approach would have spared the federal treasury.