David A. Nace: The failure of collectivism

"In 1932, Communism was considered a viable alternative to Capitalism. The members of FDR’s cabinet that had met with Joseph Stalin some years earlier were impressed with the progress his central planning or collectivism had made in Russia. The brutal mass genocide of Stalin’s regime had yet to be exposed. They were also intrigued with the industrial collective that Mussolini’s fascist government was able to achieve in Italy.

"FDR was able to gain support for his programs by blaming business and investors for the economies’ failure to recover, despite the fact it was his programs and policies that were thwarting the recovery. His collectivist policies kept wages and prices high while discouraging businesses from expanding to reduce unemployment."