Crony Capitalism & The Myth Of Robber Barrons.
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The Myth of the “Robber Barons”: James Hill versus the Crony Competitors
Whether we like it or not, the Progressive Era and its mainstream historical interpretation—even when fictional—has virtually defined our last century. The dominant, though false, narrative is basically that unfettered free market capitalism led to negative outcomes, “robber barons” monopolized the market to their benefit, and that disinterested federal regulation brought discipline to this system, keeping its benefits while curbing its excesses. For that reason, among others, entrepreneurs and businesses have been maligned, even as society enjoyed their benefits.
