http://newlaborforum.wordpress.com/2011/01/25/we-cant-go-home-again-why-the-new-deal-wont-be-renewed/

We Can’t Go Home Again: Why the New Deal Won’t Be Renewed

- Jefferson Cowie

Spilled across the title pages of progressive journals are demands 
for a new New Deal, a global New Deal, a New and Improved Deal, a 
reNewed Deal, and even New Deal 2.0. After Obama’s election, 
political cartoons—most notably, but not exclusively, on the cover 
of Time magazine—featured a jubilant, toothy Barack Obama with a 
cigarette holder, posing confidently in an open limousine à la FDR.

Elsewhere, otherwise sober commentators began speaking of 
“Franklin Delano Obama.” Even before the coming of the Great 
Recession, but accelerating ever since, the era of Roosevelt has 
become a metaphor, political principle, and guiding light for all 
that must be returned to American politics. Then, inevitably, 
comes the shock of reality: the new Gilded Age seems to have a lot 
more traction in American political culture than did the hope of a 
new New Deal.

For a historian (and social democrat) like myself, this puts me in 
a bind. I’d love to see a triumphal return of the New Deal. Many 
of the policies of the 1930s represented the best of what the 
United States might be as a nation—caring, sharing, secure, and 
occasionally visionary—while few issues seem more important today 
than bringing the concerns of working people out of the shadows 
and into the political and economic light. But bad history makes 
for really bad political strategy, so we must face up to a key 
fact: the creation of the New Deal was pretty tenuous to begin 
with, and the decades following—often called “the New Deal 
order”—were pretty close to an aberration in American history.

Indeed, the political era between the inauguration of Franklin 
Delano Roosevelt through the administration of Richard Nixon, as 
my co-author Nick Salvatore and I have argued, marks a “long 
exception” in American political history and culture.[1] During 
this period, the central government utilized its considerable 
resources in a systematic, if hardly consistent, fashion on behalf 
of non-elite Americans. One can visualize the outcome in the 
statistical graphs as an anomalous historical hump that rises in 
the forties and declines in the seventies: economic equality 
improves then tumbles, union density rockets upward and then 
slowly falls, working people’s income goes up before dwindling, 
and the percentage of wealth possessed by the most affluent dips 
before roaring back with a vengeance. Even the minimum wage rises 
to a useful figure in the late sixties before fading.[2]

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