Business: Dead Flower

The Tennessee Valley Authority is a number of things to a number of people, but to Socialist Norman Thomas it is "the only genuinely socialistic project in the New Deal—a beautiful flower in a garden of weeds." Tenderly cultivated by TVA Director David Eli Lilienthal, the flower budded prettily last summer when Electric Bond & Share agreed, at pistol point, to sell its Knoxville, Tenn. power & light properties to TVA. The pistol was the threat that Knoxville would build its own distributing system with a PWA...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!