Wouldn't one figure that due to the economic failure of the "free market", or the great depression, that Communism or radical leftism be an excellent alternative? The 1st red scare didn't make sense since the roaring 20s was about to occur. And history provides us with that reason as well as evidence. But there was a moment, from 29-33 where FDR was elected that the U.S. seemed to be left out to dry. That being said FDR's policies weren't yet implemented yet alone theorized and provided to the American public. No fireside chats, no New deal policies, nothing. In other words no hope on the horizon. So wouldn't some type of movement start since the future looked bleak at best?
They were systematically crushed by the Justice Dept in the post ww1 period. Emma Goldman deported along with many radical leftists, Eugene Debs arrested via the draconian Espionage Act, leftist publications such as Appeal to Reason brought to heel or shut down, unions destroyed, hell, entire ethnic groups such as Italians(Sacco and Vincetti being only one example) targeted, on and on. It was this state oppression that ironically, gave FDR the political leeway to push through watered down versions of what the by now crushed leftist establishment was advocating in the previous decade. Namely, Social Security, Keynesian state projects i. e., the Tennessee Valley Authority, and alphabet soup govt projects employing millions, unemployment insurance, health insurance, subsidized home loans, etc.
To paraphrase FDR, the New Deal saved capitalism. Meaning, if these progressive reforms were not enacted, radical revolution was a real possibility.. We live in a relatively subdued age compared to a century ago my opinion.
Source: Chris Hedges- Truth Dig
One can't rightly argue that the "free market" failed in 1929 if the Federal Reserve was established in 1913.