“Remember that we also eliminated, in the late 1940s, some of the war-time rations and price controls, and paid down government debt — undoing things that the government had been doing for years to stifle private sector growth.”
It seems that the author thinks that wealthy corporations are going to help the weak and unemployed in the United States. The government believes in spending to reduce poverty, not to “stifle private sector growth”. The “private sector” can change locations, lower their prices, or invest their money in any way they want. The poor struggle just to survive. It is still happening today. Blaming the politicians is an old story.