The Myth Of The Robber Barons by Burton Folsom Jr.

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

 

The Myth Of The Robber Barons is a short but wonderful book. This history book takes a walk through early American history looking at the giants in business that created massive wealth and dominated industries. The author uses the lenses of two different kind of entrepreneurs;  true “free market entrepreneurs” and “political entrepreneurs”.

Looking at history and facts through this lense clearly shows that political entrepreneurs which are today’s  crony capitalist, do great harm by colluding with government to stifle innovation, growth, and business. Their impact overall is higher prices and poorer service. They lobby and partner with government to protect their businesses and harm competitors. The ultimately help promote and develop roadblocks to competition and business. Then they and their political partners in crime in government blame the results on evil business and scream for more regulation through ridiculous agencies like the FTC that simply gives them more power to manipulate and harm business further.

Compare them to the true free market entrepreneurs that drive innovation, growth, and better products and services for less. These guys create great wealth by improving all of our lives with innovation that creates better products, services, prices. They are also the businesses that create real job opportunity and growth. They also run weak businesses that can’t deliver completely out of business unless those weak businesses succeed at colluding with the government to protect them.

Ultimately you can see through the detailed examination of history how some business folks are harmful while true free market business people greatly improves life for all of us. This is a must read book for anyone confused about the true benefits of CAPITILISM and FREE MARKETS,  as well as,  the great harm done when government interferes with them! This is a MUST READ book for all!

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