The hard part about being a libertarian is that there are endless opportunities to be frustrated. Especially if you’re job is trying to convince politicians to restrain the size and scope of government when that’s not in their self interest.
One of my special frustrations, though, is that many people don’t understand economic history.
- They blame the Great Depression on capitalism when it was largely the result of bad government policy.
- They blame the financial crisis on capitalism when it was largely the result of bad government policy.
Today, let’s talk about another example of bad economic history. Many people think corporations are rapacious entities that – in the absence of wise government – will create monopolies that screw workers with sweatshop conditions and screw consumers with ever-higher prices.
Much of this mythology goes back to the era of supposed “Robber Barons” in the late 1800s.
Fortunately…
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