In the aftermath of the Great Recession, amid growing concerns about income inequality and wage stagnation, politicians and pundits on the left and right have blamed the problems of twenty-first-century America on a familiar populist scapegoat: big business. The solution, they say, can be found in the nation's past—in particular, the reign of two twentieth-century presidents.
In the early 1900s, the narrative goes, Theodore Roosevelt waged war on corporate concentration as a crusading “trustbuster.” A generation later, during the Great Depression, his cousin Franklin D. Roosevelt stood up for small banks against Wall Street's big bullies. The Roosevelts saved America from plutocracy and created a golden age for the middle class. Thus, many argue, we need a new generation of trustbusters to save us from the robber barons of tech and banking.
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