Ronald Reagan stated towards the end of the Cold War, “The most terrifying words in the English language are: I’m from the government and I’m here to help.” Perhaps during this time with the fear of Communism, I can see where he was coming from. From the 1950’s to the early 90’s, there was a growing distrust in government. There were domestic issues involved; however, one of the biggest reasons for this fear was the growing Soviet threat and the fear of a totalitarian government. However, let’s skip back to the time of the Great Depression. For the majority of Americans, it was not governmental over involvement they worried about, it was government under involvement. They had seen how destructive the free market and capitalistic system could be without government oversight. Fortunately, Roosevelt came in and made many needed changes to help set up a more stable system.
Today, we find ourselves in an interesting situation. For one, we have just witnessed a great economic disaster, brought on by many factors-but one of them certainly being a continued lack of financial regulation- which started with Reagan until George W. Bush. Hopefully, we have learned the lesson which was learned during the Great Depression- that the free market system is not sufficient to deal with all the issue of our society. We have a society, where contrary to popular opinion; taxes are very low for the rich compared to where they were before the 1980’s. The gap between the rich and poor is even greater and the middle class is shrinking by the day.
However, we still have this Cold War mentality that makes us extremely distrustful of the government, while not nearly as fearful of pure unregulated Capitalism. I am sure if we could bring back the workers from the Industrial Revolution they could tell us how horrendous and terrifying pure Capitalism can be. The problem with holding on to this extreme distrust for the government is that it limits us from really progressing as a society. While other nations have long ago realized the importance of government involvement in the health, environmental, and financial sectors, we still tend to label it with hot button terms like “socialism” and “totalitarianism”. Of course, many of these nations with more government oversight fared much better in the recent economic downturn. However, my question is this. Do we believe in the Democratic system we have in our nation? As imperfect as it is, it still represents the voices of the people. We still have a chance to elect and throw out elected officials. What choice do we have in a purely Capitalistic society? .none. As we have seen, Wall Street Execs and Bank CEOs usually don’t look for the interest of the common person. It truly saddens me when I see the people out shouting about “government totalitarianism” while ignoring the great danger of a lack of government restriction. They are playing right into the hands of the people who want nothing more than to exploit them to make sure that their fortunes are increased.
At the end of the day, we have to move beyond this mindset. We can’t see government as the enemy. Because in the end, we are the government in a democracy. Does there need to be limits? Of course. Does there need to be a balance between Capitalism and Government Intervention? I believe so. However, let us not allow the fears of the past keep us from the needed changes we have for today. I love how FDR put it, “Let us never forget that government is ourselves and not an alien power over us. The ultimate rulers of our democracy are not a President and senators and congressmen and government officials, but the voters of this country”