V. Pres. Henry A. Wallace of "Wallaces Farmer" fame! – Teachers.Net (Politics)

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V. Pres. Henry A. Wallace of "Wallaces Farmer" fame!

by T.E.C. - Iowa

Dec 28, 2016

I was recently given a copy of the 1934 book "New Frontiers" by Henry A. Wallace. Wallace was Vice President, Secretary of Agriculture and Commerce, and very progressive. It is very interesting to see Henry Wallace's thinking in the worst of the Great Depression.

I was only 20 pages in when I found this quote that describes our world today. Amazing to think this description or prediction was made in 1934. The topic, as the quote begins, is limiting or placing regulations on trade. Wallace believes in trade restrictions which he describes as the "traffic lights" of our economy.

(Quote)

The vital question is: In whose behalf is competition limited? Is the limitation making the rich richer and the poor poorer? If so there is a danger that the day may come when the extreme left joins hands with the extreme right to bring about the most dangerous of all forms of government, a corrupt oligarchy, maintaining itself in power by pandering to the vi...See More

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