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Later New York City was midway through a massive economic decline due to maladministration and excessive wages. Cohen disapproves of the anti-democratic aspects of the Gilded Age reformers' emphasis on rationality. I would argue that the belief in rationality was a chimera. There is no such thing as rationality in government because incentives to respond to the environment are missing. Government mostly serves elites and its own organizational needs. If the Mugwumps were acting in good faith they would have been disappointed with the results of government reform, and many were and so turned to laissez faire. Cohen attributes this to the popularity of collect.
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