The Mudcat Café TM
Thread #114722 Message #2451869
Posted By: freda underhill
27-Sep-08 - 08:28 PM
Thread Name: BS: A better way to save the economy
Subject: RE: BS: A better way to save the economy
Rather than punishing the poor, during the New Deal period, the federal government evolved into an arbitrator in the competition among elements and classes of society, acting as a force to help some groups and limit the power of others. This elevated and strengthened newer interest groups which allowed these to compete more effectively
By the end of the 1930s, business found itself competing for influence with an increasingly powerful labor movement, with an organized agricultural economy, and occasionally with aroused consumers. This was accomplished by creating a series of government institutions that greatly and permanently expanded the role of the federal government. Thus, perhaps the strongest legacy of the New Deal was to make the federal government a protector of interest groups and a supervisor of competition among them.
As a result of the New Deal, political and economic life became politically more competitive than before, with workers, farmers, consumers, and others now able to press their demands upon the government in ways that in the past had been available only to the corporate world.
.. It was not until the 1970s and 1980s that most of the New Deal regulations were relaxed, and so here we go again..