American Economy and the End of Laissez-Faire – 8 of 13 – Regulation and Public Utilities

The American Economy and the End of Laissez-Faire: 1870 to World War II

8. Regulation and Public Utilities
Lecture by Murray N. Rothbard

State dominated cartels used intellectuals as apologists for the government. Big unionism was to transmit orders to the working class. Public utilities were government monopolies for fifty-year terms, run without any checks by the public. It is the function of government to run everything. Regulation was rampant, e.g. prohibition. Social workers wanted to abolish the saloons. German brewers were suspect of weakening soldiers. Constitutional amendment outlawed liquor.

Lecture 8 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 8 of 13 – Regulation and Public Utilities – YouTube

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American Economy and the End of Laissez-Faire – 9 of 13 – The Progressive Era

The American Economy and the End of Laissez-Faire: 1870 to World War II

9. The Progressive Era?
Lecture by Murray N. Rothbard

Progressive movement came in in 1900 to eliminate political parties. Technocrats and bureaucrats take over political power. Rural versus urban. Eliminate mayors, eliminate voting altogether, have appointed bureaucrats only. Nationalize public school system so costs could be socialized, like getting the public schools to teach Spanish. Children can all be part of a collective, without parental influence. Control shifted from ethnic working class small communities to upper-class WASPS.

Only synthetic drugs remained legal in medicine. Rockefeller Institute backed it. Homeopathy was outlawed. Hospitals overused fancy equipment and cared about just the doctors, not the patients.

The Progressive party was created by JP Morgan interests.

Lecture 9 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 9 of 13 – The Progressive Era – YouTube

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American Economy and the End of Laissez-Faire – 10 of 13 – Cartelization of Banking: The Fed

The American Economy and the End of Laissez-Faire: 1870 to World War II

10. Cartelization of Banking: The Fed
Lecture by Murray N. Rothbard

Bernard Baruch ran WWI as an absolute collectivist controller. The Federal Reserve was created in 1913 by Morgan men to cartelize the banking system and limit competition. Production and prices were regulated via the corporate state. Morgan men wrote the FTC- Federal Trade Commission Act. Progressive means statist and corporatist. The New Republic, a proto-fascist magazine- appeared.

Banks create fake warehouse on-demand receipts. One was a note, but the more sophisticated way was by having open-book accounts by which you have a demand deposit, not a bank note. The check is a transfer order and the temptation for counterfeiting fake warehouse receipts was great. This is fractional reserve banking. Rothbard thinks it is fraud. It increases the money supply in an inflationary manner by creating money out of thin air. All banks are technically insolvent. The Central bank system is a partnership between government and private banks. It is a coercive monopoly cartel.

Lecture 10 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 10 of 13 – Cartelization of Banking: The Fed – YouTube

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American Economy and the End of Laissez-Faire – 11 of 13 – Woodrow Wilson and World War I

The American Economy and the End of Laissez-Faire: 1870 to World War II

11. Woodrow Wilson and World War I
Lecture by Murray N. Rothbard

Where did Benjamin Strong – head of the Fed – come from? Rothbard continues to reveal the individuals who shaped our world and wars. Morgan’s empire brought us the irrational and useless WWI. Foreign policy today rests upon this Morgan outlook. The Versailles Treaty was a harsh thoughtless division of lands and economies. Many powerful politicians get their start under Wilson.

Roosevelt and Hoover were both progressive Wilsonians. 1913 gave us the Fed and the income tax.

Lecture 11 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 11 of 13 – Woodrow Wilson and World War I – YouTube

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American Economy and the End of Laissez-Faire – 12 of 13 – The Great Cooperation

The American Economy and the End of Laissez-Faire: 1870 to World War II

12. The Great Cooperation
Lecture by Murray N. Rothbard

Public housing, planned cities, government power plants, and coerced unionism were all part of the great cooperation between corporations and government through WWI and WWII. Milton Friedman proposed the withholding tax in WWII. Statistics came into being. Cartels were created to manage many industries, e.g. railroads and food. Unions were pro-war forces. Fascism was considered great. Civil liberties were dropped. Coolidge continued as a Morgan man.

Lecture 12 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 12 of 13 – The Great Cooperation – YouTube

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American Economy and the End of Laissez-Faire – 13 of 13 – Politics and the Power Elite

The American Economy and the End of Laissez-Faire: 1870 to World War II

13. Politics and the Power Elite
Lecture by Murray N. Rothbard

With WWII, Morgans get their war in Europe; Rockefellers get their war in Asia. Both sides are happy. Rockefellers take over foreign relations and create the Trilateral Commission, while electing Carter President in 1977. Coolidge had an entire Morgan cabinet. More Morgan men under Roosevelt. Central banks were set up in each country. Deliberate inflation prevented the loss of gold from certain countries. Hoover was the first New Dealer. Roosevelt in 1932 simply expanded it. The National Recovery Association was a creation of the Hyde Park group. The Roosevelts were closely connected to the wealthy Astors. Rockefeller men began replacing Morgan men. The Harrimans were connected to these power elites,running banking interests. Kuhn, Loeb & Co., Goldman Sachs and Lehman Brothers took over investment banking. Major differences are now between the Eastern establishment (cultured, old money – Kennedy) and the Southern Rim (cowboy- Reagan).

Lecture 13 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 13 of 13 – Politics and the Power Elite – YouTube

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1. The Rise of Big Business: The Failure of Trusts and Cartels – Murray N Rothbard

20th Century American Economic History

1. The Rise of Big Business: The Failure of Trusts and Cartels

Lecture by Murray N. Rothbard

In the 19th Century and the beginning of the 20th, the rise of big business on the free market could not create monopolies and cartels. Only government could do that. Government tried. Government failed.

1 of 8 from Murray Rothbard’s 20th Century American Economic History lecture series.

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Sourced from: https://mises.org/library/20th-century-american-economic-history

Source: 1. The Rise of Big Business: The Failure of Trusts and Cartels – Murray N Rothbard – YouTube

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2. The Rise of Big Business: The Failure of Trusts and Cartels continued – Murray N Rothbard

20th Century American Economic History

2. The Rise of Big Business: The Failure of Trusts and Cartels continued

Lecture by Murray N. Rothbard

Despite the drive for monopoly, only oil, sugar and corn products ended up dominated by a particular company. Bigger was not better. Biggest was not best. Smaller and more mobile was more competitive. Major inventions are still coming from small firms.

2 of 8 from Murray Rothbard’s 20th Century American Economic History lecture series.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/20th-century-american-economic-history

Source: 2. The Rise of Big Business: The Failure of Trusts and Cartels continued – Murray N Rothbard – YouTube

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3. The Progressive Era Triple Alliance: Government as Cartelizer – Murray N Rothbard

20th Century American Economic History

3. The Progressive Era Triple Alliance: Government as Cartelizer

Lecture by Murray N. Rothbard

The progressive period birthed the cancerous growth of the welfare/warfare state, fake capitalism, the middle way, neomercantilism, and the corporate state. Morgan and Rockefeller men warred with each other over many issues and many generations. Effective competition was attacked as government attempted to cartelize business.

3 of 8 from Murray Rothbard’s 20th Century American Economic History lecture series.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/20th-century-american-economic-history

Source: 3. The Progressive Era Triple Alliance: Government as Cartelizer – Murray N Rothbard – YouTube

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4. The Progressive Era Triple Alliance: Government as Cartelizer continued – Murray N Rothbard

20th Century American Economic History

4. The Progressive Era Triple Alliance: Government as Cartelizer continued

Lecture by Murray N. Rothbard

The state must invest in human beings the same way you invest in cattle on a farm. This progressive corporatist view was behind the creation of the Rockefeller Foundation. Industrial solutions were to be strictly scientific, e.g. minimum wage laws, public works, and government concentration camps (CCC).

The Federal Reserve system followed the national banking system. The free banking system had had the least inflation. Government has had a long history of bailing out big banks that might fail. Benjamin Strong was the head of the Federal Reserve system throughout his life. He was a Morgan man. The Fed had the monopoly to issue cash.

Puritanism is the haunting fear that somebody somewhere might be happy. Prohibition was just part of the progressive platforms.

4 of 8 from Murray Rothbard’s 20th Century American Economic History lecture series.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/20th-century-american-economic-history

Source: 4. The Progressive Era Triple Alliance: Government as Cartelizer continued – Murray N Rothbard – YouTube

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