One related argument I've read is that after the Russian Revolution of 1917, American capitalists had more incentives to look for points of compromise with labo

One related argument I've read is that after the Russian Revolution of 1917, American capitalists had more incentives to look for points of compromise with labor. The threat/appeal of socialism/communism was helpful to making the New Deal happen and hold. See the "The Rise and Fall of the New Deal Order, 1930-1980" by Steve Fraser and Gary Gerstle — and even more relevant to today, "The Rise and Fall of the Neoliberal Order: America and the World in the Free Market Era" by Gerstle.