Posted at Hartmann Report on Oct. 15, 2023
The Founders Challenge Monopoly: The Hidden History of Monopolies
The more things change, the old saying goes, the more they stay the same. It’s true, at least with regard to giant corporate interests fighting regulation and seizing control of governments that might try to restrain them.
The year of 1776 had a huge impact on the future of the world. Not only did Thomas Jefferson and friends declare that they’d no longer submit to the military, commercial, and political power of Great Britain, but one of the world’s great analysts of capitalism, Adam Smith, published his book An Inquiry into the Nature and Causes of the Wealth of Nations.3
At the same time that the American colonists were decrying the monopoly that the East India Company held over them, Smith was criticizing the Company—and the others who had succeeded in creating monopoly—in Great Britain.