New Deal financial reforms wrestled with a dilemma that is instructive for contemporary advocates of economic change. A project of financial reform that puts constraints on finance may impair the profitability of financial capitalists, thus provoking financial capital to sabotage the financial...

Fred Lee’s history of radical economics in America between 1945 and 1970 (RRPE 36, 2) fails to address why the powerful New Deal movement disintegrated so quickly after the war. This article argues that the Soviet Union’s decision to retreat into isolationism split and effectively...