Liberty and Equality in Political Economy

Liberty and Equality in Political Economy

From Locke versus Rousseau to the Present

New Thinking in Political Economy series

Nicholas Capaldi and Gordon Lloyd

Liberty and Equality in Political Economy is an evolutionary account of the ongoing debate between two narratives: Locke and liberty versus Rousseau and equality. Within this book, Nicholas Capaldi and Gordon Lloyd view these authors and their texts as parts of a conversation, therefore highlighting a new perspective on the texts themselves.

Chapter 9: Charles Beard, the Progressives, and Roosevelt’s New Deal

Nicholas Capaldi and Gordon Lloyd

Subjects: economics and finance, history of economic thought, political economy, politics and public policy, political economy


The development of economics as a thoroughly scientific study and the implementation of economic goals as a feature of political ideology is a turn away from the retrieval of the conversation in political economy. In the remaining chapters, we focus on the extent to which the Liberty Narrative and the Equality Narrative are still operative in the twentieth century and the extent to which these narratives will take part in the twenty-first century. The early Progressive era in the United States, for our purposes, runs from 1860 to 1928. Although there are many dimensions to the phenomenon called Progressivism, there are three common threads that stand out. First, there is an ambiguous disposition toward the American past as revealed in the writings of Herbert Croly (1869–1930), Charles Beard (1874–1938), and Frederick Jackson Turner (1861–1932). There is an ambiguity toward the Declaration of Independence (Croly) in the sense that it holds out an egalitarian promise although that promise has been derailed or unfulfilled. There is also an ambiguity toward the Constitution (Beard) in the sense that it is an undemocratic and irrelevant document. In the right hands, churning out the loosest of interpretations of the Constitution and overcoming the impediments of the separation of powers and old-fashioned federalism, that document can be turned into an instrument for Progressive reform.

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