Chronic. The high-speed reforms initiated by US President Joe Biden and the scale of their investment plans prompted people to talk about the New New Deal, the plan launched by President Roosevelt in the depths of the United States in 1933, and the crisis of 1929. -19 and the environmental crisis, after the severe financial crisis in 2010, even led some people to talk about the end of the neoliberal era.
But in retrospect, interpreting the New Deal as a Keynesian stimulus or applying planning principles to the US economy is not entirely in line with reality: the New Deal deliberately limited the budget deficit at the beginning, but planning efforts were frustrated. It is under the jurisdiction of the Supreme Court and is limited to a few departments. In many ways, the New Deal is not consistent, juxtaposing policies with conflicting principles, although they share a strong common view that more democracy will promote economic recovery.
What’s more important is that as the environment changes and goals change, we cannot simply repeat the “successful” New Deal policy today. However, what the historiography of the “New Deal” makes us understand is that a broad political alliance can provide such impetus, and even if there are errors, contradictions or shortcomings, it can also generate lasting impetus.
The author is Romain Huret, Nelson Lichtenstein and Jean-Christian Vinel in Controversial capitalism: The New Deal and its legacy (University of Pennsylvania Press, 2020) shows us that the New Deal reforms were rooted in several critical traditions of American capitalism at that time.
Therefore, since the end of the nineteenth century, in the face of very large companies, the emergence of these companies has been consideredE As a threat to democracy, there are two methods to choose from in this century: Before 1914, the scope of antitrust laws may be greatly dismantled. The “planners” of the Roosevelt team first accepted the principle of regulated consulting (close to European corporateism) advocated by President Hoover, but they received the support of big bosses such as General Electric and shared their belief in technology. And organizational economies of scale.
But when in 1935, the Supreme Court abolished the National Industrial Renaissance Act, which organized the coordination meeting of this plan, in the name of competition, Roosevelt had to respond in accordance with Wagner’s law. [juillet 1935] It protects the life of the union and gives unprecedented rights to workers in the allied countries, making the union both a rebellious force and an interlocutor for the boss. This protection of employees will ensure the redistribution of productivity within decades.
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