The Decline of Liberalism
From 1865, while the more advanced European countries were slowly conceding a larger share of public policy concern and fiscal largesse to improving working conditions, tighter restrictions on commercial fraud and exploitation of consumers, wider franchises and education, and some concessions to org...
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| Published in: | The American spectator (Bloomington, Ind.) Ind.), 2011-02, Vol.44 (1), p.22 |
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| Main Author: | |
| Format: | Magazinearticle |
| Language: | eng |
| Subjects: | |
| Online Access: | Get full text |
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| Summary: | From 1865, while the more advanced European countries were slowly conceding a larger share of public policy concern and fiscal largesse to improving working conditions, tighter restrictions on commercial fraud and exploitation of consumers, wider franchises and education, and some concessions to organized labor, and financing these reforms with increased taxation on higher incomes, the United States was in the full flower of economic growth, fueled by a colossal 60-year wave of immigration: economic growth rates generally exceeded 10 percent annually for most ofthat time. The first New Deal (1933-1934) consisted of gigantic workfare projects to absorb the unemployed in conservation programs and what would today be called infrastructure construction; a comprehensive banking reorganization with guarantees of deposits; agreed rollbacks of agricultural production, voted by sector, to assure viable pricing; encouragement of cartels and collective bargaining to raise wages and prices; evaluation of the dollar and a departure from the gold standard apart from international transactions; and legislated improvements in working conditions. |
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| ISSN: | 0148-8414 2831-6703 |