How the Riskiest Ideas are the Ones we Don’t Recognize

In his first inaugural address on March 4, 1933#, Franklin D. Roosevelt outlined in broad terms his vision of how he hoped to govern. During his presidential campaign, Roosevelt had said as little as possible about what he might do, if elected. His campaign speeches favored a buoyant, optimistic tone spiced with humor. The speech was solemn as warranted by a worrisome context: By 1933 the depression had reached its depth. Addressing the failures of the market and those of unscrupulous profiteers, he said, “when there is no vision the people perish.” FDR made changes to policy that intended to…


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