Word: controlled
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Dates: during 1930-1939
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...analyze exactly what Mr. Lippmann proposes to do, once he has applied social control instead of overhead direction. He declares that there must be mobility of capital. But if capital is to be mobile, it must be secure. "Thus there must be required stringent liability on the part of promoters for the worth and good faith of the securities they issue . . ." And further capital must not become "entrenched in certain favored corporate structures." Therefore "the limited liability corporation must be deprived of the right to retain profits and invest them, . . . not according to the judgment of the market...
...that "there is no reason why some part of the wealth produced should not be taken by taxation and used to insure and indemnify human beings against their personal losses in industry." Mr. Lippmann does not say whether he regards the Social Security Board as an agency of overhead control or a method of social control by the common law. He indorses public works, the development of water power, insurance against industrial risk--all in the name of social control...
Although Mr. Lippmann never realizes that he has written a powerful endorsement of the New Deal, he does recognize that his agenda requires the establishment of commissions with power. How to explain these cases where the liberal agenda appears to be at odds with the liberal method of control through a common law interpreted by judges...
Here is the final rampart on which Mr. Lippmann must defeat his distention between the New Deal overhead control and liberalism's social control--i.e. commissions at this point. He answers that the officials who inspect, prosecute, and administer must be regarded as exercising merely certain rights and duties instead of possessing the attributes of majesty. When one remembers that the New Deal's Commissions act only under the mandate of Congressional statutes and the threat of judicial review, Mr. Lippmann's collapse seems miserably final and complete...
...conception of pressure groups and then writes a program that inevitably brings them into being; he stresses the limitation of man and then suggests projects whose administration would tax the wisest of men; he attacks the judiciary's conception of property rights and then tries to repose his social control largely in the hands of the same judiciary; he attacks the Providential State and then builds a liberal state that provides innumerable services for its citizens; he rages at the New Deal's overhead direction and then reenacts its program in the name of social control. In trying...