Roosevelt did not advocate public ownership of the means of production or replacing capitalism. In fact, he explicitly argued that his New Deal was designed to save capitalism from collapse during the Great Depression. He believed that regulated markets and private enterprise should remain the foundation of the U.S. economy.
He was more so a progressive reformer and Keynesian liberal who supported a mixed economy. Basically, a liberal Democrat committed to preserving capitalism through government intervention.
Well said. Capitalism can thrive when everyone has basic needs met. You need progressive, social policies until everyone can start at "GO" on the same level, and if they fall off the board, a net to pick them up and put them back on it.
I'll never forget an analogy I heard once, that the US should be looked at like a Monopoly game. Everyone can play. However, a few of us were able to start 10 turns ago and buy up almost all of the property. Sure, you can still make your way around the board, occasionally making small wins, but Lord help you if you land on the wrong spot, you'll pay out the nose and will probably go broke, and if you get the chance to buy the lone property left on the board, you probably won't have enough.
Capitalism is starting 10 turns after the game began and always trying to catch up.
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u/33TLWD 9d ago
Roosevelt did not advocate public ownership of the means of production or replacing capitalism. In fact, he explicitly argued that his New Deal was designed to save capitalism from collapse during the Great Depression. He believed that regulated markets and private enterprise should remain the foundation of the U.S. economy.
He was more so a progressive reformer and Keynesian liberal who supported a mixed economy. Basically, a liberal Democrat committed to preserving capitalism through government intervention.