Jim Tankersley wrote an article for Patriotic Millionaires which encourages us to rethink the traditional narrative of the post World War II economic boom in the US – the idea that innovation and American exceptionalism drove our expansion – is incorrect.
Instead, he argues that massive investments into our own citizens was the biggest factor behind the boom. Now that we’re in a similar wartime-level economic depression, Tankersley argues that we should replicate those massive investments into the most vulnerable economic groups right now to pioneer a new era of growth out of one of our darkest moments. ( Patriotic Millionaires, 8/6/2020)
My comment: the New Deal was a measure of daring and brilliance. It took millions out of unemployment and poverty, gave them skills and education and laid the groundwork for the amazing successes of the post-war period. In fact, in a more enlightened moment in history, it had widespread support, despite the effects on the national debt. This is a moment similar to the great depression. But who, if anyone, has the vision?