Kim phillips fein invisible hands in economics



Kim phillips fein invisible hands in economics

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    Invisible Hands: The Making of the Conservative Movement from the New Deal to Reagan

    July 15, 2009
    In 1978, former United Auto Workers President Douglas Fraser got to the heart of the matter.



    In a well-known letter of resignation from the pseudo-corporatist Labor-Management Group, Fraser thundered against the passing of the New Deal order and the ascendancy of corporate power and free-market ideology: “I believe leaders of the business community, with few exceptions, have chosen to wage a one-sided class war today in our country – a war against working people, the unemployed, the poor, the minorities, the very young and the very old, and even many in the middle class of our society.” The grand compromise between business and labor that underpinned the New Deal and the “golden age of capitalism” that ran from the end of World War II until the early 1970s was cast aside.

    “The leaders of industry, commerce, and finance in the United States have broken the fragile, unwritten compact