ABSTRACT
In 1937, Coyle devoted an entire book, Age Without Fear, to his misgivings about the social security system. There was a difference, he pointed out, between economic security and social security. Coyle's other principal objection to the existing social security system was, the reserve feature and the enormous amount of money that would be accumulated in that reserve. "The real way to increase consumption," Coyle argued, was "to increase the incomes of consumers and to increase their feeling of security." "The wholesome growth of capitalism," Coyle wrote, "depends on favoring small investors." Coyle argued: "The test of a nation's ability to govern itself by democratic methods is the willingness of the people to pay the price of success." Coyle then took notice of business concerns over the New Deal, writing: No doubt the first thing that should be done is to dispel the paralyzing fear of Government persecution that has settled over the business world.
