Big business still likes many Republicans, don’t worry. But Dorfman is right, big business sees real opportunity in partnering with big government and is increasingly doing so. You know like in 1920s Italy.
The political and banking classes both demand easy money right now. (They always want it.) Print more and more money and the world will continue on as it has (limping that is) for the past 5 years. This is the “new normal.” Sure it’s corrupt, sure it’s counterfeiting, sure it encourages unsound economic and political decisions, but hey we need to do what we need to do.
The Federal Reserve just grows and grows. Born in 1913, 100 years later it sits atop world finance the unrivaled master of what it surveys. And the master likes to know whats going on in his kingdom.
The railroads and the government have been weary partners from the earliest days. This is nothing new, but the railroads shouldn’t brag about how they aren’t on the take.
If you are going to hook your buddies up with sweet government contracts at least make sure they can come close to doing the job. Otherwise you look, well you know…
This essay by Murray Rothbard holds particular relevance as the Trans Pacific Partnership continues to be negotiated in secret.
Among the early Roosevelt fascist measures was the National Industry Recovery Act (NRA) of June 16, 1933 …. [these ideas] were first suggested by Gerard Swope (of the General Electric company)… They were adopted by the United States Chamber of Commerce. During the campaign of 1932, Henry I. Harriman, president of that body, urged that I agree to support these proposals, informing me that Mr. Roosevelt had agreed to do so. I tried to show him that this stuff was sheer fascism; that it was a remaking of Mussolini’s “corporate state” and refused to agree to any of it. He informed me that in view of my attitude, the business world would support Roosevelt with money and influence. That for the most part proved true.—Hoover Memoirs 3:420
In the wake of FDR, who despite the historical propaganda was far from a president who was universally loved, the American people moved to limit the terms of presidents to 2. FDR had wandered far too close to despotic rule (in some cases stepping over the line) during his tenure, and after his death America moved quickly to make sure that such a situation did not happen again. FDR had violated the tradition of Presidents stepping down after 2 terms. Now it needed to be codified, for the sake of the Republic.
The drug war is a colossal disaster. It is a massive sociological experiment which because of crony capitalist forces (and other forces) continues on. Many groups (local police forces, the DEA, testing companies, prison companies and unions) make lots of money and have gained lots of power because drugs are illegal. They are not going to give up this power just because the lives of millions of Americans are destroyed by the drug war every year. Hey, they’ve got to get paid.
Recently I wrote a piece entitled Boycott Back Friday. Generally it was well received. Being fans of capitalism and the voluntary exchange of goods and services we made the point that it was entirely reasonable to opt out of the buying frenzy from a pro-market perspective. To value time (time is money) with one’s family and more than standing in line to buy things is the very essence of what a free market is all about.