Name: Monopoly Myths: Monopolization of America—Debunking Robert Reich
Uploaded: 2021-09-16T01:42:09+00:00
Duration: 21 min 27 s
Description: There are countless monopoly myths when it comes to the argument relative to capitalism. Critics of capitalism love to blame capitalism for why you are seeing monopoly-like prices as giant corporation

4 years ago

There are countless monopoly myths when it comes to the argument relative to capitalism. Critics of capitalism love to blame capitalism for why you are seeing monopoly-like prices as giant corporations seek to consolidate more wealth and power within this corporatist system and drive prices up, however, as I point out debunking Robert Reich, he fails to acknowledge the clear distinction between market entrepreneurs and political entrepreneurs.

Robert Reich being the typical socialist sympathiser, he perpetuates the myth of the Robber Barons, laying accusation as others have before him that the likes of John D. Rockefeller, Cornelius Vanderbilt, among others, apparently were these evil monopolists who drove prices up to shaft the consumer. The evidence I have pointed out even from Thomas J. DiLorenzo's book, 'How Capitalism Saved America' contradicts his narrative, especially on the railways regarding James J. Hill, etc.

Like I have stated, it is down to governments regulation that has resulted in the restriction of competition and of productivity that has enabled such an oligopolistic market and certain monopolies. Like I argued, the likes of Robert Reich love to loosely throw around the word 'monopoly' which is wrong, otherwise, the word begins to lose meaning. I have explained the definition, as well as provided plentiful evidence to back up what contradicts his baseless claims.

Coincidentally, after Standard Oil was broken up, among other Trusts in 1911, that was when you began to see the real monopolisation of the oil market, etc as prices drove up, just as Tom Woods mentioned about FDR, it was in their interests 'apparently' in the name of making life better for the farmers, but it didn't. It is evidently clear that state corruption had its agenda.

This will help explain why Antitrust law legislation is never the answer for solving such problems you see today. The solution is to get government out of the market, to open up the free market economy, to allow competition to step in. In today's corporatist system, as I've argued, the government is getting to pick and choose winners and losers, which explains why big corporations dominate the marketplace, especially the giant supermarkets who are getting away with exploiting and shafting the farmers. All of this has been allowed due to government over-regulating the private sector that enabled such collusions to form in the absence of a free market.

People like Robert Reich are ludicrous for thinking more government regulation is the solution when that has been the problem from day one.

• Introduction: (0:00)
• Market vs Political Entrepreneurship: (0:47)
• Shafting Consumers: (4:52)
• Supermarket Exploitation: (7:36)
• Robber Barons Myth: (8:27)
• Corporatism NOT Capitalism: (10:07)
• Government Regulation is THE Problem: (11:08)
• Monopolisation of Healthcare: (11:40)
• Company Consolidation: (13:14)
• Wages and Inflation: (13:56)
• Real Rationale of Antitrust: (14:46)
• Robber Barons Myth Continued: (15:28)
• Antitrust Myth: (17:30)
• Conclusion: (20:37)