Industrial Regulation Quotes
She had done a monumental exposé of the Standard Oil Company illegal and immoral activities. The public was so aroused that many reforms were instituted and the Standard Oil Company Trust was broken up into many smaller companies. Tarbell was then, in the words of S. S. McClure, “the most famous woman in America.”
While Roosevelt was considered a radical by ultra-conservatives, he was actually considerably to the right of William Jennings Bryan, the Democrats, and most of the populists of day who wanted much more draconian solutions to the abuses of corporations.
This quotation illustrates one of White’s correct early grasps of what was happening in the political economy of the time and its future direction with growing industrialization and technological complexity. Most historians agree that White passed classified information to the Russians. He was accused of being a Communist, but there was never any evidence of that. Some people believe that he was a spy for the Russians and committed espionage, but others disagree observing that White was very much his own man and felt that much information that was classified never should have been. White substituted his own judgment, it is believed, about what could be given to the Russians for the security system. He was an admirer of what Russian socialism had accomplished economically, educationally and medically since the 1917 revolution deposing the Czar. Russia had been a valuable military ally, which had taken the brunt of both military and civilian casualties in WWII. White’s economics were certainly not Marxist but very much Keynesian. He was subpoenaed by the House Un-American Activities Committee where he was accused of being a Communist which he denied (see {634907}). He died of a heart attack 3 days later.
More than 20 years later, after unregulated finance enabled the Great Depression, Franklin Delano Roosevelt, finally got the Securities and Exchange Commission passed by Congress. By the beginning ot the 21st century