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Finance as Servant? Lessons from New Deal Financial Reform

Author

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  • Ellen D. Russell

    (School of Public Policy and Administration, Carleton University, Ottawa, Canada, K1S 5B6, russell.ellen@gmail.com)

Abstract

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 reforms. This article discusses how the New Deal navigated this dilemma in hopes of gleaning insights useful for contemporary projects of financial reform.

Suggested Citation

  • Ellen D. Russell, 2008. "Finance as Servant? Lessons from New Deal Financial Reform," Review of Radical Political Economics, Union for Radical Political Economics, vol. 40(3), pages 250-257, September.
    • Handle: RePEc:sae:reorpe:v:40:y:2008:i:3:p:250-257
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