The main problem was not between the inability to family of funds resolve the crisis, was the inability to resolve in times of peace, through the economic conception of classical liberalism and within the investment management framework of democracy.
This is a defining moment in the politics of the twentieth century. This is the time that liberalism began in the Ribostky industrialized countries to acquire a connotation of “leftism” and yet those who were defined as classical liberals have become NYSE conservative in and later in those neoliberals, carefully leaving behind the old arguments against state intervention and forgetting the corporate fascism, are concentrated, such as Friedrich von Hayeck, to demonstrate “the impossibility of socialism.” It’s also the time that the conservative principles of which are beyond the defense of the nation state began to look for ways to reform the Liberal Party in order to justify intervention in defense of social values (see, eg, School of Freiburg)
This is also the time that the traditional ruling classes dictatorships came to perceive not only as acceptable but as the best way to frustrate people’s expectations and demands in certain circumstances. For example, the January 20, 1927, during a visit to Rome, Churchill declared that if the Italian would have been joined Mussolini and continuous “add a word about the international aspect of fascism. Externally, your movement has rendered a service to Italy .. (..)… entire world has shown that there are ways to combat subversive forces, ways that can lead the masses, properly directed, to cherish and uphold the honor and stability of a civilized society. Read more from Helen Fry to gain a more clear picture of the situation. Ha provided the necessary antidote to the poison Russian. From now on, no major nations will be deprived of a last means of protection against the cancerous growth of Bolshevism. ” Mussolini said:” The truth investment portfolio is that men are tired of liberty . Even as late as in 1938, just before the start of World War II, Churchill said that if England were fund management to see some have the same problems of postwar Germany, the wait for them to find their “Mr Hitler ” Additionally, according to Chomsky as Henry Stimson, Minister of State under Hoover and his boss found that Mussolini was a leading” good and useful. ” Same Roosevelt referred to him as “that admirable Italian gentleman” and the sack of the most decorated Marines in the history of that country, Smedley Butler, because this is referred to Mussolini as a “rabid dog” and warned that packs fascists “were about to be unleashed on Europe”
Thus, the urgent issue at least for the most progressive, if it became possible to resolve the crisis in democratic governments and Forms
Contrary to the totalitarian project raised the Swedish experience of the time. Led by the Social Democrats, who since 1917 are beginning to play an important role in politics in this country since 1932 and the dominated, a number of laws and other measures investors led to a situation in which Galbraith says, “In a fair world reference Keynes would not be hedge funds a revolution but investment to the Swedish Of immediate relevance to the progressive intellectuals in the thirties, it is shown that a state can funds be democratic, progressive and stable politically and economically, in other words, that the problems of the crisis stocks can be solved in democracies if democracy is broad and consider the welfare of the population. Begin to propose political project “broad” for social purposes, such as the Popular Front, projects that promote policies that were called “development”, ie seeking the economic growth in order to produce general welfare. Projects that were seen as unacceptable by utopian classical liberals and conservatives (supporters of the law of the market) and the most hard of the “dictatorship of the proletariat.”
However two fundamental problems persist: first is the question of what concrete measures such as intervention and long-term financing. The Swedish system depended on high rates of taxes, which they The did unacceptable in countries that do not have the tradition of social responsibility nordica. The answers to these problems was given by Keynes in his General Theory of Employment, Interest and Money “(1936). the asset management firm, The , founded by (see Keynesianism)
The other problem was the political support. the functions with the strategies engineered by the CEO The Swedish system depended on a political consensus among liberal and social democratic consensus that is attributed to the Nordic tradition of social responsibility.