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While there has always been a significant section of the capitalist
class and their hangers on that is steeped in this cavalier mentality,
a milieu that is increasing in influence today, there has always been
a more sober and sophisticated section of the ruling class around
liberals and others that saw and see the folly of this mentality,
including, actually, the conservative self avowed "technocrat" Herbert
Hoover, to say nothing of Wilson, FDR and the liberal democrats.  An
early and articulate expression of this perspective was Theodore
Roosevelt who in a speech during his 1912 campaign, reflected on the
lessons of history as a cautionary tale for his own class:

http://www.youtube.com/watch?v=-g5VFJocI6g

"Our aim must be steady, wise progress. It would be well if our people
would study the history of a sister republic. All the woes of France
for a century and a quarter have been due to the folly of her people
in splitting into the two camps of unreasonable conservatism and
unreasonable radicalism. Had pre-Revolutionary France listened to men
like Turgot, and backed them up, all would have gone well. But the
beneficiaries of privilege, the Bourbon reactionaries, the
shortsighted ultra-conservatives, turned down Turgot; and then found
that instead of him they had obtained Robespierre. They gained twenty
years' freedom from all restraint and reform, at the cost of the
whirlwind of the red terror; and in their turn the unbridled
extremists of the terror induced a blind reaction; and so, with
convulsion and oscillation from one extreme to another, with
alternations of violent radicalism and violent Bourbonism, the French
people went through misery toward a shattered goal. May we profit by
the experiences of our brother republicans across the water, and go
forward steadily, avoiding all wild extremes; and may our
ultra-conservatives remember that the rule of the Bourbons brought on
the Revolution, and may our would-be revolutionaries remember that no
Bourbon was ever such a dangerous enemy of the people and of freedom
as the professed friend of both, Robespierre. There is no danger of a
revolution in this country; but there is grave discontent and unrest,
and in order to remove them there is need of all the wisdom and
probity and deep-seated faith in and purpose to uplift humanity we
have at our command."

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