How FDR Saved Capitalism

Franklin Roosevelt succeeded in undercutting the growth of left-wing political movements in the mid-1930s by adopting much of the rhetoric of the left and co-opting many of its leaders.

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The fact that left-wing parties did not make significant inroads during the Great Depression dramatically demonstrated not only the power of America’s coalitional two-party system to dissuade a national third party but also the deeply antistatist, individualistic character of its electorate.

Related:

Presidential Firepower – How FDR saved capitalism in eight days.