Why is there no socialism in the United States? Why, when the industrialization of every other Western nation was accompanied by the evolution of institutions to insure the population ever more generously against economic risk, did the mightiest industrial nation of all go the other way? (Pace the paranoid fantasies of the Tea Party Right.)
The most famous answer came from the German sociologist Werner Sombart, who blamed material abundance, arguing in 1906 that “on rafts of beef and apple pie, socialist utopias of every description go down to destruction.” But what about the Great Depression,