The ruling Democrats have a choice: Rescue this economy to return it to market control. Or use this crisis to seize the commanding heights of the economy for the greater social good. Note: The latter has already been tried. The results are filed under “History, ash heap of.”
Of course there is a third choice — introduce a level of reasonable regulation and transparency to bolster overall confidence. Every government intervention in the marketplace is not creeping socialism. See “Roosevelt, Theodore; Franklin”
-MJ
There is still plenty of scholarly disagreement over the efficacy of the New Deal (and not the kind of “disagreement” that exists about creationism and evolution).
The consensus among economists is that the government should provide a massive stimulus; but this doesn’t mean a permanently larger role for government in the economy.
My bet is the Obama, et al. get it. I don’t think “the reasonable regulation and transparency” is about the New Deal. They didn’t have the tech. Plus, evidently we are going to have a Federal CTO…
Meanwhile, it seems to be agreed that it was WWII that fixed the economy. On the other hand, the New Deal made it alot easier for regular people to get through the storm.