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Katy Oliveira Fall 2006 Book Review 3 Martin J. Sklar.

The Corporate Reconstruction of American Capitalism, 1890-1916: The Market, the La , an! "olitics# (New York, Ca !ri"#e $niver%ity &re%%, '())*. O+ten t,e ri%e o+ t,e -or.orate -a.itali%t %y%te re%/lt o+ i% /n"er%too" to %i .ly !e t,e

o"erni0ation1% evol/tion. Martin Sklar, ,owever, ar#/e% t,at t,e i"eolo#y o+ e er#e" a% t,e -on%en%/% i"eolo#y an" in+or e" t,e -or.orate

-or.orate li!erali%

re-on%tr/-tion o+ 2 eri-an -a.itali% . Sklar ar#/e% t,at t,i% "i" not take .la-e !e-a/%e o+ nat/ral e-ono i- or .oliti-al .ro-e%%e% o+ evol/tion, !/t rat,er !e-a/%e o+ .arti-/lar a#en"a% an" .oli-y initiative% o+ t,e Roo%evelt, 3il%on, an" 4a+t a" ini%tration%. 5n t,e .erio" !etween ')(0 an" '('6, ,e -onten"% a -or.orate re-on%tr/-tion o+ 2 eri-an -a.itali% e er#e" +ro two -o .etin# -a.itali%t i"eolo#ie%6 t,e .ro.rietary7-o .etitive arket %ta#e. /lti ately e er#e" +ro t,e "e.re%%ion

arket %ta#e an" t,e -or.orate7a" ini%tere" Sklar -onten"% t,at -or.orate -a.itali%

o+ t,e ')(0% +or t,ree .ri ary rea%on%. Fir%t, ,e ar#/e% t,at "i%+ran-,i%e ent an" %/..re%%ion o+ -ivil ri#,t% o+ 2 eri-a1% 2+ro72 eri-an .o./lation narrowe" 8t,e ran#e o+ .oliti-al "e o-ra-y an" %/!%tantially weakene" .o./li%t or anti7-or.orate +or-e% in t,e !o"y .oliti-.9' Se-on", ,e %i#,t% t,e violent -/rtail ent o+ in"/%trial /nion %tren#t, in %it/ation% %/-, a% t,e :o e%tea" %trike in ')(2 an" t,e &/ll an Railway Strike in ')(;. 4,e t,ir" in+l/en-e on t,e ri%e o+ -or.orate -a.itali% Sklar ention% i% 2 eri-an

involve ent in t,e S.ani%, 2 eri-an 3ar an" t,e %/!%e</ent t,ree year -on</e%t in t,e &,ili..ine%. :e ar#/e% t,at war7in"/-e" "e an" e=.an"e" t,e "o e%ti- e-ono y an"

'

Sklar, 20.

nationali%t %enti ent #ave t,e in-/ !ent a" ini%tration t,e %/..ort nee"e" to ./t +ort, an a#en"a t,at +avore" -or.orate reor#ani0ation o+ in"/%try. Sklar al%o ar#/e% t,at t,e /lti ate e er#en-e o+ -or.orate -a.itali% "o inatin# or ,a" to i% not a

onolit,i- .,eno enon. Rat,er, ,e ar#/e% t,at vario/% -a.itali%t -la%%e% /%in# -o .ro i%e an" a--o o"ation

ane/ver wit,in t,e .oliti-al %y%te

a-ro%% line% o+ -la%% an" %trata. >a-, &ro#re%%ive >ra .re%i"ential a" ini%tration ,a" it% own -o .etin# vi%ion +or -or.orate -a.itali% an" -onte%te" t,e way it wo/l" +/n-tion in

2 eri-an %o-iety. 4,e Roo%evelt a" ini%tration %/..orte" a %tati%t leanin# -or.orate li!erali% , 3il%on wante" a re#/latory -or.orate li!erali% , an" 4a+t %o/#,t a ini ali%t7re#/latory -or.orate li!erali% . 5ntere%tin#ly w,i-, %ort o+ -or.orate li!erali% %,o/l" .revail %till in+or % .oliti-al ar#/ ent% in t,e .re%ent o ent. Sklar

%/##e%t% -or.orate li!erali%

,a" %/-, wi"e%.rea" a..eal !e-a/%e t,e -or.oration o!ility +or i""le -la%%

!e-a e a new 8+rontier9 o+ o..ort/nity, w,i-, .rovi"e" %o-ial .eo.le. Not only "i" t,e ri%e o+ -or.orate -a.itali%

alter t,e -a.itali%t

arket an"

.ro.erty relation%, !/t it al%o tran%+or e" t,e role o+ t,e +e"eral #overn ent. Many en#a#e" in .ro.rietary !/%ine%% %o/#,t t,e .rote-tion o+ t,e +e"eral #overn ent to .rovi"e -oe=i%ten-e, %ta!ility, an" +air .lay wit,in t,e new %y%te , lea"in# to #reater %/..ort +or #overn ent re#/lation o+ e-ono i- in%tit/tion%. ?e!ate re#ar"in# anti7tr/%t i%%/e% !ro/#,t t,e nat/re o+ t,e 2 eri-an .oliti-al tra"ition an" it% intera-tion wit, a -or.orate -a.itali%t %y%te "ire-tly into </e%tion. 4,e%e %ort% o+ .oliti-al reeval/ation%

lea" not only to t,e re%tr/-t/rin# o+ 2 eri-an -a.itali% , !/t al%o t,e re%tr/-t/rin# o+ t,e #overn ent1% role in e-ono iatter%.

2lt,o/#, t,i% !ook "oe% not "ire-tly %.eak to i%%/e% o+ +orei#n .oli-y, t,e e-ono i- i"ea% an" t,e e% it intro"/-e% are a val/a!le .art o+ o/r /n"er%tan"in#. 4o tr/ly /n"er%tan" t,e e-ono i- "eter inate% .oli-y, we otivatin# /-, o+ 2 eri-a1% +orei#n

/%t al%o /n"er%tan" t,e evol/tion, or -reation rat,er o+ 2 eri-a1% e-ono i-

an" .oliti-al %y%te %. Sklar1% work i% val/a!le !e-a/%e it -,allen#e% notion% t,at %y%te % e er#e ran"o ly or a% t,e re%/lt o+ evol/tionary .ro-e%%e% an" in%tea" %/##e%t% t,at ,/ an1% !ein#% o/t-o e. ane/ver wit,in an" -onte%t .ro-e%%e% to "eter ine a .arti-/lar