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This book is the first major reinterpretation of the New Deal in thirty years. The author reassesses the origins and premises of the industrial, labor, and welfare policies of the 1920s and 1930s, and argues that the labor and welfare law of the latter New Deal--indeed the origins of the modern welfare state--grew from a piecemeal private response to the competitive instability of the 1920s. This study is both an economic history of the interwar era, and an examination of the relationship between political and economic power in the United States.
Colin Gordon writes a fascinating history of the New Deal, which challenges the reading of Gabriel Kolko and Capture Theory. He argues that their was no monolithic business interest, but that the competitiveness of individual firms made it virtually impossible to organize around and control government regulation. Gordon's writing is excellent and his examples capture the age. A must read for any scholar of the era, or anyone who thinks they know all there is to know about the New Deal.
