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Analysis in 1934 of FDR's NRA program

"For some reason this reminds me of Waldo Frank's analysis in 1934 of FDR's NRA program:

The NRA is the beginning of American Fascism. But unlike
Italy and Germany, democratic parliamentarianism has for gen-
erations been strong in the Anglo-Saxon world; it is a tribal in-
stitution. Therefore, a Fascism that disposes of it, rather than
sharpens and exploits it, is not to be expected in North America
or Britain. Fascism may be so gradual in the United States
that most voters will not be aware of its existence. The true
Fascist leaders will not be present imitators of German Fuhrer
and Italian condottieri, prancing in silver shirts. They will be
judicious, black-frocked gentlemen; graduates of the best universities; disciples of Nicholas Murray Butler and Walter Lippmann.
( Note: from NRO's Jonah Goldberg )