More than any other single period, World War I was the critical watershed for the American business system. It was a “war collectivism,” a totally planned economy run largely by big-business interest through the instrumentality of the central government, which served as the model, the precedent, and the inspiration for state corporate capitalism for the remainder of the century.
Murray N. Rothbard made major contributions to economics, history, political philosophy, and legal theory. He combined Austrian economics with a fervent commitment to individual liberty.
The Fed was a government-sanctioned cartel engineered by the Morgan, Rockefeller, and Kuhn, Loeb interests to enable coordinated inflation.
Why the nation’s big banks grew dissatisfied with the post–Civil War National Banking System.
With the Democrats ascendant under Wilson, the reformers repackage the Aldrich Plan as the ostensibly decentralized, government-supervised Federal Reserve—with Morgan-allied interests securing control.
