FDR didn’t just pull us out of the Depression. He fundamentally altered economic/banking/political rules so it wouldn’t happen again. Several decades ago we started dismantling some of the very protections that FDR created, so crony capitalists could party more. And here we are.
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Economically it’s a similar world in many ways. Every generation tends to believe that whatever we’re going through has never happened before, but archetypal patterns in history exist. What Jefferson called “the general tendency of the rich to prey upon the poor” is nothing new.
Mar 18, 2020 · 4:09 PM UTC
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