Liberty and American Civilization

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5. The Revolution of 1913

Liberty and American Civilization

Tags The FedTaxes and SpendingU.S. History

06/07/2006Thomas J. DiLorenzo

In 1913, economics and liberty collided when the Federal Reserve Bank was created, the 15th Amendment created the income tax, and the 17th Amendment instituted direct election of Senators.

The proponents of the central bank hoped to nationalize as much as possible all interests to be subordinate to the central government. The Fed and the Income Tax made possible America’s entry into world wars


Lecture 5 of 10 from the Steven Berger Seminar: Thomas DiLorenzo on Liberty and American Civilization.


Contact Thomas J. DiLorenzo

Thomas DiLorenzo is a former professor of economics at Loyola University Maryland and a member of the senior faculty of the Mises Institute. He is the author of The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; and The Problem with Socialism.

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