Figure 1.-- This painting by Sean David Williams was chosen to illustrate Yale University's Thurman Arnold Project and could not more clearly exmplify a mindset hostile to capitalism. It is a visual depiction of the progressive author Frank Norris' book, 'The Octopus'. The drawing while aimedat capitalism is actually a perfect illustration of a socialist economy and progressives are increasingly drawn toward socialism. Ironically, socialism not capitalism by definitiin is monopolistic.

Thurman Wesley Arnold (1891 - 1969) is a prime example of the intelectuals that the New Deal brought to Washington. He was not a Marrxist but like most New Dealer who came out of the Progressive Movement, he had serious doubts about capitalism. Almost to a man they blamed the Depression on capitalism and capitalists. The role of the Government, including the Federal Reserve, in turning a normal market downturn ino the Great Depression was either unknown or supressed. And is still widely practived by the modern Democratic Party. Arnold served as oart of the American Expeditionary Force in France during World War I. He then pursued a career in law and politics. He was mayor of Laramie, Wyoming, and then a professor at Yale Law School, where he took part in the legal realism movement. He published three books, two before coming to Washington to join the New Deal: The Symbols of Government (1935) and The Folklore of Capitalism (1937). While in Washington, he published The Bottlenecks of Business (1940). Arnold is primarily associated with his trust-busting campaign as Assistant Attorney General in charge of the Antitrust Division in the Department of Justice (1938-43). Now trust-busting is not anti-capitalist per se. In fact, trust busting is imprtant for the proper fubctioning of a capitalist economy. In the hands of lawyers and politicians dubious or hostile to capitalism, however, it can adeversel affect the proper functioning of a capitalist economy. And it should be remenbered that the whole point of the New Deal was to get the economy working again. And trusts/monoplies are not generally seen as a cause of the Great Depression. Ultimately President Roosevelt decided to get Arnold out of the Justice Department because he was impairing the World War II war effort. The American war effort was based on mibilizing our capitalist economy to produce a tidal wave of war material. President Roosevelt called it the Arsenal of Democracy. The President nominated Arnold for the Federal Judiciary, where he served as Associate Justice of the United States Court of Appeals for the District of Columbia.

Created: 3:35 AM 5/16/2014
Last updated: 3:35 AM 5/16/2014