The Princess and the Prophet by Jacob S. Dorman

Author:Jacob S. Dorman
Language: eng
Format: epub
Publisher: Beacon Press
Published: 2019-03-11T16:00:00+00:00

CHAPTER ELEVEN

POWER BROKERS

Whenever in the pursuit of this objective the lone wolf, the unethical competitor, the reckless promoter, the Ishmael or Insull whose hand is against every man’s, declines to join in achieving an end recognized as being for the public welfare, and threatens to drag the industry back to a state of anarchy, the Government may properly be asked to apply restraint. Likewise, should the group ever use its collective power contrary to the public welfare, the Government must be swift to enter and protect the public interest. The Government should assume the function of economic regulation only as a last resort, to be tried only when private initiative, inspired by high responsibility, with such assistance and balance as Government can give, has finally failed.

—PRESIDENT FRANKLIN DELANO ROOSEVELT, 19321

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