The Ghetto in our Hearts

Discussions of the American economy are so rife with mis-charectorization and outright falsehoods, a person needs a sword to cut through all the cobwebs. Or, short of a sword, a book.

Two such books are The Triumph of Conservatism and Regulating the Poor. Both books deal with two areas of the American economy most commonly mis-understood: regulation and welfare.

Triumph of Conservatism by Gabriel Kolko is a revionist look at the "Progressive Era", the period at the tail end of the Gilded Age whereupon the modern regulatory apparatus was born. The book traces the Roosevelt administration and the two subsequent presidencies, Taft and Wilson.

The common myth of regulation has two sides, either the government is filled with naive do gooder liberals who attempt to fiddle with economy, to the detriment of everyone involved, out of either a misguided and quixotic quest for equality, a hatred for the wealthy, or perhaps a deep seated love of Karl Marx; or, the government is simply trying to mitigate the excesses of the market place. Both these views are completely false. They contain a fundamental mis-understanding, a beleif that Big Business and Big Government are opposed. A cursory understanding of history shows the relationship to not be one of either antagonism or even parasitism, but of a symbiosis. Big Business and Big Government feed off and support each other to rob cheat and steal from the rest of the country.

(end of part 1)