![]() ![]() The Republican President Hoover laid the foundations for Roosevelt's New Deal. ![]() Adam Smith's invisible hand could be supplanted by a beneficent one. Most persuasive of all was the idea that government could manage capitalism to ameliorate its excesses and ease - or even end - the pain of its failures. Earnest delegations visited Mussolini and Hitler as well as Stalin to examine modern methods of organising the state. ![]() Communism or maybe even fascism (Oswald Mosley went fishing with Roosevelt in the late 1920s) seemed to offer a possible alternative to the silent laissez-faire of Coolidge in America and Baldwin in Britain. This is a story of the days when the Wall Street crash made most people believe capitalism had failed. The mission of Amity Shlaes, a Bloomberg columnist with libertarian tendencies, is to bring the focus back to Sumner's taxpayer. ![]()
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