Quote:
Originally Posted by Gozer
Honestly, I don't. The way I understand the Gilded age is that a few people accrued a vast amount of wealth (robber barons), which - while leading to
1. a great discrepancy in classes -
2. was the proverbial tide that raised all boats.
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Not meaning any offense, but how can both 1 and 2 be true? It seems to me that they're exactly contradictory, and the widespread problems of the great depression fell mostly on the shoulders of those on the wrong side of that "discrepancy." A fundamentally sound economy has a strong middle class. The middle class was squeezed out of existence during the Gilded Age, and it's probable that this was a major factor in how the ill effects of the depression were distributed.
But more tellingly--the economic policies of the Gilded Age DIDN'T lead to wealth and prosperity, or a rising tide that lifts all boats. They led to economic disaster, a Great Depression that was only ended by the New Deal and the Great War occasioning huge amounts of government spending. Again--the circumstantial evidence is telling a different story here.
Earlier you took me to task for having a more nuanced view of the types of polities that are possible--namely because I refuse to describe a successful social democracy (Sweden) as "socialist." Well, here's why: the twentieth century has left us two examples of failed economic models: one is socialism. The other is unregulated laissez-faire capitalism. I don't think it's that outlandish to be in favor of the free market but also believe that government has a role in regulating it and protecting the poor and weak from penury and destitution.
Generally the laissez-faire argument goes something like this: those who don't succeed under that model either don't exist (a rising tide lifts all boats) or don't deserve to succeed (poverty is a moral failing). That would be nice if it were that simple--but the facts don't support it. Don't kid yourself--the playing field is not equal, and while it is not government's job to guarantee equality, it is up to government to build a polity that means that everyone CAN succeed regardless of the circumstances of their birth.