Encroaching Socialism

The View from 1776:

President Obama’s rhetoric about reviewing government regulations and taking measures to foster America’s economic competitiveness reflects either ignorance or hypocrisy.

Business is competitive only when businesses are allowed to compete. Government regulation is aimed expressly at curbing free-market competition.

Such regulation is nothing less than steadily encroaching socialism.

Liberal-progressives since the 1930s – notably historian Arthur Schlesinger, Jr., – have propagandized the canard that President Roosevelt’s New Deal was only “saving capitalism” from itself. The capitalist system, according to Schlesinger and to Keynesian economists such Harvard’s Alvin Hansen, had failed with the 1929 crash that inaugurated the Great Depression of the 1930s.

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