Question

6. Summing up Roosevelt (pp. 681–683) Note that in the election of 1908, Socialist Eugene Debs polled nearly half

a million votes. Socialism was gaining wide popularity in Europe as an alternative to the excesses of
free-market capitalism. *** Under socialism,
(government, individuals, or corporations)
own(s) the "means of production" (like factories) and
(government, individuals, or
corporations) make(s) the key economic decisions about allocation of resources (like who makes how much of
what product). The authors sum up Roosevelt on p. 682 by saying that he was "the cowboy who started to
tame the bucking bronco of adolescent capitalism, thus ensuring it a long adult life." *** In your own words,
what do you think they mean by this metaphor? |

Answer 1

Theodore Roosevelt was a very influential president in that his way of doing things lingered long after he stopped being president and passed on.

He was the first U.S. President to be known as a cowboy because he had a farm in North Dakota that he regularly spoke of as well as being pictured in ranch clothing.

He was therefore regularly referred to as a cowboy.

Under Teddy Roosevelt, the U.S. government clamped down on the wild capitalism that had developed in the country. For a long time, the U.S. government did not get involved in business because they felt minimal government intervention was good for business.

This led to businesses abusing human rights and basic decency in chasing profits. Roosevelt came into power intent on changing this and with the laws he managed to implement, the apparent wildness in the U.S. business environment was brought under control.

This ensured that the people did not begin to lose support of capitalism as they invariably would have thereby leading to capitalism surviving in the U.S. till this day.