The lessons of Franklin Roosevelt are relevant today, especially the need for an activist government to “promote the general Welfare” by investing in infrastructure and combating the power of “organized money.” But many Democrats shy away from the debate, says Beverly Bandler.
Until the Great Crash of 1929, the federal government did little to regulate the power of Wall Street as it precipitated cycles of boom and bust that ruined the lives of many Americans. That history is now being forgotten as Republicans move to dismantle what’s left of the New Deal, says Lawrence Davidson.
From the Archive: As Republicans and the Tea Party seek to dismantle the New Deal’s social contract, one of their heroes, Dick Cheney, concedes that his personal success traces back to the federal government’s intervention against the depredations inflicted on Americans by “free-market” capitalism, writes Robert Parry.
The response to Occupy Wall Street is personal for many participants and visitors alike. For historian William Loren Katz, the iconic protest in Lower Manhattan was a reminder of Depression-era “Hoovervilles” — but with a youthful optimism.