How do we account for the relative silence of the left? Perhaps what really matters about a movement’s strength is the years of building that came before it. In the 1930s, the growth of unions and the popularity of demands to share the wealth and establish “industrial democracy” were not simply responses to the economic debacle. In fact, unions bloomed only in the middle of the decade, when a modest recovery was under way. The liberal triumph of the 1930s was in fact rooted in decades of eloquent oratory and patient organizing by a variety of reformers and radicals against the evils of “monopoly” and “big money.”

Similarly, the current populist right originated among the articulate spokespeople and well-funded institutions that emerged in the 1970s, long before the current crisis began. The two movements would have disagreed about nearly everything, but each had aggressive proponents who, backed up by powerful social forces, established their views as the conventional wisdom of an era.

THE seeds of the 1930s left were planted back in the Gilded Age by figures like the journalist Henry George. In 1886, George, the author of a best-selling book that condemned land speculation, ran for mayor of New York City as the nominee of the new Union Labor Party. He attracted a huge following with speeches indicting the officeholders of the Tammany Hall machine for engorging themselves on bribes and special privileges while “we have hordes of citizens living in want and in vice born of want, existing under conditions that would appall a heathen.”

George also brought his audiences a message of hope: “We are building a movement for the abolition of industrial slavery, and what we do on this side of the water will send its impulse across the land and over the sea, and give courage to all men to think and act.” Running against candidates from both major parties and the opposition of nearly every local employer and church, George would probably have been elected, if the 28-year-old Theodore Roosevelt, the Republican who finished third, had not split the anti-Tammany vote.

Despite George’s defeat, the pro-labor, anti-corporate movement that coalesced around him and others kept growing. As the turn of the century neared, wage earners mounted huge strikes for union recognition on the nation’s railroads and inside its coal mines and textile mills. In the 1890s, a mostly rural insurgency spawned the People’s Party, also known as the Populists, which quickly won control of several states and elected 22 congressmen. The party soon expired, but not before the Democrats, under William Jennings Bryan, had adopted important parts of its platform — the progressive income tax, a flexible currency and support for labor organizing.