Presented by Murray N. Rothbard in Fall 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe.
Download the complete audio of this event (ZIP) here.
1. The Civil War and Its Legacy
How does government intervene in the economy? What are the consequences? What are the motivations behind passing these interventions? The lives of the people involved explain why they do these things.
2. The Railroading of the American People
The railroads experienced both enormous growth and enormous government intervention. Land was closed off from settlement, causing farmers to oppose the privileged railroads. Markets were skewed. Waste and inefficiencies were high.
3. The Decline of Laissez-Faire
Economics is a constant fight between the market and the government. The railroad cartel did not work against the free market even with ideal conditions. Airlines were tightly regulated until the small airlines began to compete in quality. Deregulation followed.
4. The Rise and Fall of Monopolies
Rockefeller's Standard Oil created a monopoly in kerosene refining by buying others out. A huge drop in the price of fuel followed, benefiting consumers, due to production efficiencies. Rothbard then discusses pietists, prohibitionists and the big political shift of 1896.
5. Pietism and the Power Brokers
When pietists shift to the Republican party, they form the progressive movement of 1900-1920. Rockefeller- McKinley forms alliances with power brokers like Kuhn, Loeb & Co., and Harriman (versus the Morgans).
6. Tariffs, Inflation, Anti-Trust and Cartels
The Sherman Act outlawed restraint of trade. The Clayton Act added to that. Anti-Trust hysteria came in the 1940-50s. Whatever you did would be considered monopolistic. The charges didn't come from consumers, they came from whining competitors.
Customer ReviewsSee All
Rothbard is simply amazing. His books are awesome but I especially enjoy listening to him in a talk/lecture. It gives a small, much appreciated, glimpse at the wit and humor of this great intellectual thinker.
My ears are bleeding...
The poor quality of the audio makes this unlistenable.