the large bureaucracies that had been created theretofore, now licensed by the Supreme Court’s repudiation of Lochner, wielded enormous authority. Largely abandoned were the Jeffersonian dreams of restoring the norms of small-town life, or breaking up the big, bad trusts—those sorts of concerns had been rendered something of an afterthought. Now the challenge was simply to steer existing bureaucracies to invest.
Why Nothing Works: Who...
