… is from page 231 of George Selgin’s brilliant forthcoming (next month) book, False Dawn: The New Deal and the Promise of Recovery, 1933-1947 (link added):
[T]he New Deal gave businessmen the willies in two different ways. One was by heightening regime uncertainty in the strict sense: as the Roosevelt administration’s policy experiments multiplied, with no clear end in sight and no telling what might come next, businessmen no longer felt able to plan for the future. The other was by employing rhetoric that vilified those same businessmen or coming up with laws that seemed deliberately aimed at punishing them.
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