'Carter's administration marked the end of 45 years of democratic capitalism, whose goal had been to harness the private sector for the common good. It's important to understand what happened and why,' writes Robert Reich.
Carter’s administration marked the end of 45 years of democratic capitalism, whose goal had been to harness the private sector for the common good.For years, the rap on President Carter has been that his presidency failed yet his post-presidency was the best in modern history.his presidency was exemplary for the same reason he was elected president after the disasters of Richard Nixon and Nixon’s vice president, Gerald Ford : Carter’s modesty, decency, and humanity.
It was not Carter’s fault that democratic capitalism ended with him. To the contrary, he appointed many consumer, labor, and environmental advocates to his administration. The untold story of the Carter years is the vast increase in corporate political firepower during this time. Trade associations, law firms, lobbying firms, political operatives, and public-relations specialists swarmed Washington, offering executives so much money that most retiring members of Congress also became lobbyists.
Not only were these traits the opposite of Nixon’s, but they would shine even brighter 40 years later in contrast to the loathsome Donald Trump. Full disclosure: I was a Carter appointee, but met him only twice, once at a Rose Garden ceremony and years later at a dinner party at the home of Sen. Dianne Feinstein.
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