Capitalism and underdevelopment in the American South
Keri Leigh Merritt writes: In 1938, near the end of the Great Depression, the US president Franklin Delano Roosevelt commissioned a ‘Report on the Economic Conditions of the South’, examining the ‘economic unbalance in the nation’ due to the region’s dire poverty. In a speech following the report, Roosevelt deemed the South ‘the nation’s No 1 economic problem’, declaring that its vast levels of inequality had led to persistent underdevelopment. Although controversial, Roosevelt’s comments were historically accurate. The president’s well-read…