The Progressive Era and the Rise of Crony Capitalism | Patrick Newman

Recorded at the Mises Institute in Auburn, Alabama, on July 20, 2018.
Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

[@ricksmith8447]

I wish more people would watch this stuff. Really helps to connect the dots with how and why we are where we are as a nation.

[@Pdrum2]

Rick Smith Everytime I've read Murray Rothbard history I have always had a good overview of how things got to be the way they are today

[@malachiraymond485]

instaBlaster

[@je-freenorman7787]

You live in the Holy Roman Empire America is split into 3

[@hansenhansen4890]

One of the few things that I learned in a mainstream economics class: "It should be the goal of every industry to be regulated by the government."

[@ThinkShink]

Wow. Incredibly messed up.

[@zeldapope1563]

I am glad I found this speaker

[@danielrice3047]

Great Rothbard impression!

[@abramgaller2037]

It would be really cool if politicians in authority would openly state that cronyism is harmful.

[@johnk2452]

AG, IMO, it would be even "cooler" if We The People --- the LEGAL electorate --- would wise up to this institutionalized republic-killing DC Swamp scam and DEMAND --- by voting appropriately --- for pro-Constitution representation. Until sufficient numbers of We The People get ourselves educated --- in order to understand foundational American values, AND, develop a working moral compass and critical thinking skills --- there will ALWAYS be clever and ambitious anti-liberty politicians who will be MORE THAN WILLING to DUPE a large percentage of the American electorate ... in order to acquire wealth, power and fame. Now, that would be cool. PS: Do we want to live in a culture and nation which is one of, by and for the people, or, do we not? If yes, then, clearly, it is up to us to make it so; otherwise: never mind ... as our overlords will soon be upon us completely.

[@abramgaller2037]

We as a polity also need a more realistic model of what government is and what it can do.

[@mikebastiat]

That's what's hard for socialists to understand: "the capitalists" arent always capitalists and dont always want free markets. Beliving this, they cant see how regulations benefit them. But JP Morgan was not an anarchist. The whole fallacy arises from "the state is us" fallacy.

[@Paul-A01]

"The Morgans got American involved in WW1" I've got to say, that's a new one.

[@mikebastiat]

I ditch the word "crony capitalism." Concedes too much to the crony socialists.

[@edwaggonersr.7446]

Morris, great point. These monsters wish to privatize profits and socialize expenses and loses, ergo, crony-socialists.

[@Pdrum2]

Crony is really an imprecise word

[@edwaggonersr.7446]

In what way is crony an imprecise word in this context?

[@Pdrum2]

Ed Waggoner Sr. How does it concede to the socialists? I never had a problem with it

[@edwaggonersr.7446]

Though you neglected to answer my question I will be happy to answer yours. It concedes too much to socialist because it allows them to blame capitalism for the evil consequences of socialism.

[@animalfarm7467]

Where's the other 40 comments?