The Myth of the Robber Barons: A New Look at the Rise of Big Business in America

[bendog]

Profits At High, Wages At Low - Business Insider

 

[Kevin_Kennedy]

No, he is a media mogul and part of the power elite in a class of their own.



Is PG&E a monopoly? Is the sky a monopoly? WTF

If it's a monopoly, it's a government enforced monopoly of the later kind, just like most utility companies.

What does that have to do with Robber Barons, the subject of your thread?

The railroads snapped up the land during the time the two rails met east and west. Try to keep up.

Most of the railroads were subsidized by the federal government and protected against competition with price controls. Thus they are perfect examples of government granted monopolies. One exception would be James J. Hill's Great Northern Railway.

 

[Papawx3]

Much to the dismay of those on the left, they have to understand that the government did not build and does not run this country. The government does not produce anything, including money (with the exception of the currency and checks which it prints with nothing to back it up). It only takes away from those productive citizens and businesses that have and redistributes it to those who do not have.
It is Capitalism that built this nation. It is the working men and women of this country that take it upon themselves to find the demand for products and services, use their skills and resources to provide those products and services to those willing to pay for them. Because of them, this has become the greatest country in the history of the world. The freedom to ply one's trade and provide products and services for a given price to the public is called Conservatism.
Were no people or businesses providing these products and services, there would be no USA. There would only be people wandering from one place to another, living off of the charity (or governmental extortion) of those other people who choose to produce and provide for themselves. In short, there would only be Liberalism.

 

[QuickHitCurepon]

If it's a monopoly, it's a government enforced monopoly of the later kind, just like most utility companies.

What does that have to do with Robber Barons, the subject of your thread?

The railroads snapped up the land during the time the two rails met east and west. Try to keep up.

Most of the railroads were subsidized by the federal government and protected against competition with price controls. Thus they are perfect examples of government granted monopolies. One exception would be James J. Hill's Great Northern Railway.

Most folk did not know what a non-sequitor was back then, but it is kind of naïve to pretend now. The government is of the people, for the people, by the people.

 

[Kevin_Kennedy]

What does that have to do with Robber Barons, the subject of your thread?

The railroads snapped up the land during the time the two rails met east and west. Try to keep up.

Most of the railroads were subsidized by the federal government and protected against competition with price controls. Thus they are perfect examples of government granted monopolies. One exception would be James J. Hill's Great Northern Railway.

Most folk did not know what a non-sequitor was back then, but it is kind of naïve to pretend now. The government is of the people, for the people, by the people.

I didn't realize you preferred to have discussions in meaningless slogans.

 

[Publius1787]

Whenever libturds talk about the "evils of capitalism," they never fail to bring up the so-called "robber barons." .......................


In the Mellon chapter, the author describes how Andrew Mellon an entrepreneur in oil and aluminum became Secretary of Treasury under Coolidge. In office, Mellon was the first American to practice supply-side economics. He supported cuts on income tax rates for all groups. The rate cut on the wealthiest Americans, from 73 percent to 25 percent, freed up investment capital and led to American economic growth during the 1920s.

Then WTF happened in 1929? Ooops! There goes THAT theory.

Do Folsom and McDonald explain how what the "barons" built went to hell just a few years later? Or did they make out like "bandits" and survive the worst economic disaster this country has ever seen?

[ame=http://www.youtube.com/watch?v=O7pnjzCuSv8]Milton Friedman explains role of gold in Great Depression. - YouTube[/ame]

 

[oldfart]

Then WTF happened in 1929? Ooops! There goes THAT theory.

Actually Mellon as Secretary of the Treasury deepened the 1929 Market Crash into the Great Depression by holding fast to conservative economic policy of letting downturns run their course and completing the work of "destruction" as he aptly called it. Only then would there be a recovery. He opposed Hoover's meagre efforts at relief for this reason, all the while fighting his conviction for tax evasion.

 

[RandomVariable]

Whenever libturds talk about the "evils of capitalism," they never fail to bring up the so-called "robber barons."

Whenever starting a thread it is best to open with a good strawman. After that it's all downhill from there.

 

[Kevin_Kennedy]

Then WTF happened in 1929? Ooops! There goes THAT theory.

Actually Mellon as Secretary of the Treasury deepened the 1929 Market Crash into the Great Depression by holding fast to conservative economic policy of letting downturns run their course and completing the work of "destruction" as he aptly called it. Only then would there be a recovery. He opposed Hoover's meagre efforts at relief for this reason, all the while fighting his conviction for tax evasion.

Which is completely ahistorical. Roosevelt's New Deal was based on policies already in place by the Hoover administration.

 

[Indeependent]

Whenever libturds talk about the "evils of capitalism," they never fail to bring up the so-called "robber barons." .......................


In the Mellon chapter, the author describes how Andrew Mellon an entrepreneur in oil and aluminum became Secretary of Treasury under Coolidge. In office, Mellon was the first American to practice supply-side economics. He supported cuts on income tax rates for all groups. The rate cut on the wealthiest Americans, from 73 percent to 25 percent, freed up investment capital and led to American economic growth during the 1920s.

Then WTF happened in 1929? Ooops! There goes THAT theory.

Do Folsom and McDonald explain how what the "barons" built went to hell just a few years later? Or did they make out like "bandits" and survive the worst economic disaster this country has ever seen?

The financial panic in 1929 was the result of credit inflation by the FED. Credit inflation has been the cause of many recessions/depressions, and it's always caused by the government. The recession of 2008 was also the result of credit inflation. Easy money from the FED is a big part of what caused the housing bubble.

I prefer Milton Friedman's explanation on the Great Depression...Too much overseas (Non-US based) investment not backed up by enough timely QE.

Too much overseas (Non-US based) investment....Hmmm

 

[Kevin_Kennedy]

Then WTF happened in 1929? Ooops! There goes THAT theory.

Do Folsom and McDonald explain how what the "barons" built went to hell just a few years later? Or did they make out like "bandits" and survive the worst economic disaster this country has ever seen?

The financial panic in 1929 was the result of credit inflation by the FED. Credit inflation has been the cause of many recessions/depressions, and it's always caused by the government. The recession of 2008 was also the result of credit inflation. Easy money from the FED is a big part of what caused the housing bubble.

I prefer Milton Friedman's explanation on the Great Depression...Too much overseas (Non-US based) investment not backed up by enough timely QE.

Too much overseas (Non-US based) investment....Hmmm

In other words, the Keynesian explanation. The Fed didn't print enough money fast enough.

 

[QuickHitCurepon]

Most of the railroads were subsidized by the federal government and protected against competition with price controls. Thus they are perfect examples of government granted monopolies. One exception would be James J. Hill's Great Northern Railway.

Most folk did not know what a non-sequitor was back then, but it is kind of naïve to pretend now. The government is of the people, for the people, by the people.

I didn't realize you preferred to have discussions in meaningless slogans.

The Robber Barons were all-powerful, certainly more powerful than the government then and did not, in any way, need anybody's help. It is how the richest corporations and men today also do not need any help from the federal government.

 

[QuickHitCurepon]

Subisidies are good for those industries that get them, but no industry is going to falter in the least without them. They will search under every rock to find other revenues and get them.

 

[QuickHitCurepon]

Price controls can be done with or without the government's help, like the sale of gasoline. Of course, it is better when the government does it, but it is only a convenience.

 

[Kevin_Kennedy]

Most folk did not know what a non-sequitor was back then, but it is kind of naïve to pretend now. The government is of the people, for the people, by the people.

I didn't realize you preferred to have discussions in meaningless slogans.

The Robber Barons were all-powerful, certainly more powerful than the government then and did not, in any way, need anybody's help. It is how the richest corporations and men today also do not need any help from the federal government.

So the railroads weren't subsidized by the federal government, and as such didn't make their routes purposefully nonsensical and longer than necessary in an attempt to get more money from the government? And the richest corporations today don't help the federal government write the regulations that they can easily absorb but keep out smaller companies from entering the market and competing with them? That's all a myth?

 

[Kevin_Kennedy]

Subisidies are good for those industries that get them, but no industry is going to falter in the least without them. They will search under every rock to find other revenues and get them.

Then how in the world did many of the railroads who actually did receive subsidies go bankrupt?

 

[Kevin_Kennedy]

Price controls can be done with or without the government's help, like the sale of gasoline. Of course, it is better when the government does it, but it is only a convenience.

How?

 

[QuickHitCurepon]

I didn't realize you preferred to have discussions in meaningless slogans.

The Robber Barons were all-powerful, certainly more powerful than the government then and did not, in any way, need anybody's help. It is how the richest corporations and men today also do not need any help from the federal government.

So the railroads weren't subsidized by the federal government, and as such didn't make their routes purposefully nonsensical and longer than necessary in an attempt to get more money from the government? And the richest corporations today don't help the federal government write the regulations that they can easily absorb but keep out smaller companies from entering the market and competing with them? That's all a myth?

You've proved my point for me. The railroads did as they please. Nevertheless, are you dumb or what? The government had no control over the railroads, where it mattered, towards building an empire. Like you said, they made the routes as they pleased and did just about everything they pleased. That's how Robber Barons amassed their capital. That the government helped them some is inconsequential.

 

[QuickHitCurepon]

Subisidies are good for those industries that get them, but no industry is going to falter in the least without them. They will search under every rock to find other revenues and get them.

Then how in the world did many of the railroads who actually did receive subsidies go bankrupt?

They did not have what it takes.

 

[QuickHitCurepon]

Price controls can be done with or without the government's help, like the sale of gasoline. Of course, it is better when the government does it, but it is only a convenience.

How?

Cooperation?